Tag: Seoul

This is good news if you are a property owner in Seoul, but not good news for anyone trying to find a place to live:

The average sales price of apartments in Seoul has nearly doubled under the Moon Jae-in government, a civic group said Wednesday.

The Citizens’ Coalition for Economic Justice announced the results of its study that has tracked the prices of 115,000 units in 75 apartment complexes since President Moon took office four years ago.

The average price of a 99-square-meter apartment in Seoul rose to 1.19 billion won (US$1.04 million) from 620 million won from May 2017 to May 2021.

The rise in apartment prices was found to be 192 times the rise in net income, which grew by an average of 2.98 million won during the same period.

Yonhap

You can read more at the link, but a 99 square foot apartment is about 1,065 square feet that people in Seoul have to pay over $1 million dollars to afford. It is understandable why people in Seoul are upset about the high cost of housing.

Here is an interesting idea to combat misspellings in Seoul:

The Seoul city government is offering rewards to the first 100 people who report errors they find in English, Chinese or Japanese on public signs in the city, especially those at tourist sites, through June 15.    
   
“Anyone in Seoul can participate by reporting an error that they see in foreign language usage on information boards at tourist sites,” said the city government in its statement on Sunday. “The project is open through June 15, and individuals can participate up to five times .”  
   
When the city government receives a report about incorrect foreign language usage on these signs that is confirmed to be erroneous, it will reward the person with 10,000 won ($8.90) in mobile cash that can be used at member stores of Zero Pay, a special mobile payment service integrated in commercial banking and payment apps.  

Joong Ang Ilbo

You can read more at the link.

Considering how packed Seoul always seems it is hard to believe it is going through a population decline:

 Seoul’s population has fallen below 10 million for the first time in over 30 years, the city government said Wednesday. 

The total number of inhabitants in the capital stood at 9,911,088 at the end of last year, with 9,668,465 citizens and 242,623 foreign nationals, the local government said, citing data from the ministries of interior and justice. 

This marks the first time Seoul’s population has sunk below 10 million since it crossed the threshold in 1988.

Yonhap

You can read more at the link.