Korea Joongang Daily
Korea JoongAng Daily

Wealth concentration at top intensifying as the rich's proportion of real estate assets grows

A Korean household needed assets of at least 3.48 billion won ($2.36 million) to rank among the country’s top 1 percent last year, underscoring the concentration of wealth at the top.

2026-04-16

Lenders forced to further limit household loan growth, not to extend loans to owners of multiple homes

All local lenders in Korea will be forced to further tighten their household lending this year and not extend loans to owners of multiple homes, the financial regulator said Wednesday, in a stepped-up move to rein in record household debts.

2026-04-01

Average price of mid-sized apartments in Seoul exceeds 1.5 billion won

The average price of mid-sized apartments in Seoul has exceeded 1.5 billion won ($977,000) for the first time, largely because buyers are focusing on homes priced at 1.5 billion won or less.

2026-03-31

Apartment prices decline in three Seoul districts as real estate market shifts

Apartment prices fell in three districts in southern Seoul — Gangnam, Seocho and Songpa — for the first time in two years, a shift in the capital’s most expensive neighborhoods that signals a broader slowdown in the housing market.

2026-02-28

At least 83 dead as Hong Kong firefighters battle burning towers for second day

Firefighters battled for a second day to extinguish a blaze at a high-rise apartment complex in Hong Kong on Thursday, as the death toll rose to 83 in one of the deadliest blazes in the city's modern history.

2025-11-28

U.S. nationals own nearly 6,000 apartments in Seoul, mostly in posh riverside districts

Nearly 6,000 apartments in Seoul are owned by Americans, most clustered along the Han River in the city’s most expensive neighborhoods.

2025-10-08

No bed, just breakfast: Hotel buffets sizzle with walk-ins in new dining trend

An increasing number of people, largely those in their 40s and up, are taking to dining at hotel breakfast buffets — without staying at the accommodation — in a new trend that blends smarter diets with simple luxury.

2025-05-23

Stabilize the housing market with actions (KOR)

The government must do its best to stabilize the housing market.

2024-08-12

Stabilize the housing market with actions

The government must do its best to stabilize the housing market.

2024-08-11

Building new stories

A long-awaited plan for rebuilding apartments constructed in the 1970s was approved by the city government of Seoul on Thursday. The approval will allow new buildings to reach as high as 50 stories.

2023-09-14