One is exempting sales for properties under 1.2 billion won from capital gains taxes, from the current 900 million won. The second proposal is to only impose the comprehensive real estate tax on the top 2 percent by government assessed values.
State-owned developer Land and Housing Corp. (LH) saw its evaluation drop sharply compared to last year as it became the center of controversy earlier this year after some of its employees were accused of using insider information for land purchases.
After a decade as Korea’s largest real estate listings app, Zigbang is revamping its business to become a one-stop shop for real estate transactions — from virtually walking through apartments to signing real contracts.
Land and Housing Corp.’s (LH) headcount is to be cut 20 percent, and the number of senior employees prohibited from taking jobs at companies in related businesses will be increased to 529 from seven.
Under the third of three tenet protection laws passed last year, details about all rental or jeonse deals above a certain won amount will have to be registered, raising the possibility that the tax authorities could use it find hidden income.
Jeonse prices are rising at a faster rate, after slowing for a number of months, ahead of new tenant-protection law set to come into effect on June 1.
The ruling Democratic Party (DP) has refused the opposition People Power Party (PPP)’s request for a parliamentary probe into special apartment allocation for government employees. All three opposition parties have demanded a...
Human desire is the driving force of the capitalist economy. Adam Smith, founder of modern economics, advocated selfish desire. In the Wealth of Nation published in 1776, Smith wrote, “It is not from the benevolence of the...
The ruling Democratic Party (DP) on Thursday adopted a set of policies aimed at relieving real estate tax burdens and increasing home supply amid continuing hikes in housing prices.
“Why does the government do this to me? I didn’t do anything wrong to them. I just lived as I was told, but have been betrayed by the government.”