Tag: Seoul

Tweet of the Day: Coffee Shops Make Up for Seoul’s Lack of Public Spaces?

Picture of the Day: Seoul without Fine Dust in the Air

Cloudy but without fine dust
Cloudy but without fine dustPeople observe the cityscape from Mount Nam in central Seoul on April 21, 2024, after the previous day’s rain cleared up fine dust that had covered the city. (Yonhap)

Picture of the Day: Bus Driver Strike in Seoul Ends

Bus drivers in Seoul end strike
Bus drivers in Seoul end strike
Bus operations return to normal in Seoul on March 28, 2024, as unionized bus drivers in the capital concluded their strike about 11 hours after initiating the labor action following the breakdown of wage negotiations with their employers. (Yonhap)

Picture of the Day: Runaway Ostrich in Seoul

Runaway ostrich
Runaway ostrich
An ostrich gallops on the road in Seongnam, south of Seoul, on March 26, 2024, after escaping from an eco center, in this photo provided by a reader. (Yonhap)

Picture of the Day: Statue Cleaning in Seoul

Spring cleaning
Spring cleaning
A worker sprays water on an Olympic installation in southeastern Seoul on March 13, 2024, to remove dirt as part of springtime cleaning. (Yonhap)

Tweet of the Day: South Korea’s Sprinklers in the Roads

https://twitter.com/Rainmaker1973/status/1766813757680779672

Calls Grow for Korean Authorities to Stop Foreign Speculators from Buying Property in Seoul

Considering the high housing prices Koreans are facing in Seoul, preventing foreigners from buying investment properties may help a little, but probably not much:

The government is facing growing calls to curb the purchases of homes in Korea by foreign nationals, who could obtain mortgage loans from banks abroad and are subject to less stringent borrowing regulations than Koreans.

Some are even demanding restrictions as a reciprocal measure against countries where foreigners, including Koreans, are restricted from owning homes.

As of July 2023, foreigners accounted for 1.4 percent of total home purchases here. While this percentage may seem modest, it has been steadily increasing from 1 percent in 2021 to 1.2 percent in 2022. Also, fierce competition to buy homes in the crowded capital, where real estate prices have been escalating rapidly, has amplified the concerns of local residents regarding foreigners buying homes in Seoul under more favorable conditions.

Korea Times

You can read more at the link.

Picture of the Day: Seoul Fire Fighter Union Protests for More Manpower

Firefighters' rally
Firefighters’ rally
Unionized firefighters carrying the portraits of firefighters who have died while putting out fires enter a rally in Seoul on Feb. 26, 2024, calling for the expansion of fire manpower. (Yonhap)

Picture of the Day: Korea’s Holiday Traffic

Heavy holiday traffic
Heavy holiday traffic
Heavy traffic clogs the Gyeongbu Expressway, which links Seoul to the southern city of Busan, in southern Seoul on Feb. 11, 2024, as many people travel home after Lunar New Year’s Day the previous day. This year’s holiday runs from Feb. 9-12. (Yonhap)

100 Story Building to Be Built on Old Railyard in Yongsan

Here is the latest building that will grace Seoul’s skyline in the next few years:

A 100-story landmark building will be built in central Seoul’s Yongsan District, which will also feature a pedestrian bridge linking buildings at the 45th-floor level, the Seoul Metropolitan Government said, Monday.

These are part of the city government’s revived plan to transform the 500,000-square-meter former railyard into an international business district.

The land has been vacant for 10 years after the previous development plan had been canceled due to the global economic crisis. The state-run railway operator KORAIL holds 70 percent ownership of the land.

Korea Times

You can read more at the link.