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Regulated

 
A bird’s-eye view of Songpa District in eastern Seoul on Tuesday, when new regulations on land transactions took effect in the Songpa and Gangnam districts of Seoul. Under the regulations, any housing transactions, including those with jeonse loans, that are not reported could result in a two-year prison sentence. The government plans to keep an eye on irregular transactions in these areas. [YONHAP]

A bird’s-eye view of Songpa District in eastern Seoul on Tuesday, when new regulations on land transactions took effect in the Songpa and Gangnam districts of Seoul. Under the regulations, any housing transactions, including those with jeonse loans, that are not reported could result in a two-year prison sentence. The government plans to keep an eye on irregular transactions in these areas. [YONHAP]

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