Latest news with #LandMinistry
Korea Herald
11-08-2025
- Business
- Korea Herald
Seoul Mayor orders regulatory review of foreign buyers' housing purchases
Seoul Mayor Oh Se-hoon on Monday ordered city officials to review potential regulations and monitoring measures on purchases of high-priced real estate by foreign nationals who do not reside in the property. According to the Seoul Metropolitan Government, Oh directed relevant departments to examine how major countries, including the United States, Australia, Singapore and Canada, regulate and monitor foreign purchases of housing for non residential purposes. Oh also requested the departments to assess whether such measures could be applied in Seoul. The city government said the mayor's directive was prompted by concerns that purchases of high-priced homes by foreign buyers who do not live there could distort the real estate market and lead to reverse discrimination against local residents. So far, the city government has proposed amendments to the Act on Report on Real Estate Transactions to limit real estate acquisitions by foreign nationals who do not live in the property to the Land Ministry. It has also joined hands with the Seoul Institute to analyze foreign property ownership by nationality, age and region to improve transparency in real estate transactions involving foreign nationals since July. The National Tax Service launched a special tax investigation into 49 foreign nationals who allegedly acquired high-priced houses through illicit means in Gangnam-gu, Seocho-gu, Songpa-gu and Yongsan-gu in early August. The tax agency added that most of them were from the US and China, and about 40 percent of them were ethnic Koreans. The city government plans to review different measures, including pre-approval and permit systems based on the principle of reciprocity, and consult with the Land Ministry to determine the policy direction for high-priced real estate acquisitions by foreign buyers for purposes other than living there.
Korea Herald
18-06-2025
- Business
- Korea Herald
Apple joins Google in push to export Korea's high-precision map data
Experts caution that granting US access may open door to similar demands from China under its data-sharing laws The debate over the overseas transfer of South Korea's high-precision map data, a sensitive issue that had been largely dormant since the launch of President Lee Jae Myung's administration, has reignited. The government is moving to develop countermeasures as global tech giants intensify their efforts to gain access to the data. Apple recently sought legal advice from a Korean law firm regarding its application to export 1:5,000 scale map data. The move follows the company's earlier attempt in 2023, which was aimed at enhancing services such as its Find My device tracking feature, Apple Pay's local operations and the in-car navigation system integrated into Apple CarPlay, according to industry sources on Thursday. Apple's previous request was rejected by the Korean government due to national security concerns. Industry watchers believe the US tech giant will quickly reapply should the government approve Google's pending application to export similar map data. The review of Google's request is ongoing. The government, which deferred its decision last month, must deliver a verdict by Aug. 11. As the Lee administration seeks to ease trade tensions with Washington, attention is focused on how it will respond to Google's bid. For now, progress on the matter has stalled. The Ministry of Land, Infrastructure and Transport is required to convene a consultative body involving related ministries -- including those handling trade, security, ICT, industry and foreign affairs -- to deliberate on the issue. Potential candidates for the post of land minister, including Democratic Party lawmakers Maeng Sung-kyu and Moon Jin-seok, both known for their cautious stance on data exports, further signal the possibility of another rejection. The map data dispute remains a key irritant in Korea-US trade relations. The US Trade Representative has consistently cited Korea's restrictions on map data exports as a trade barrier and recently urged Seoul to address this and other non-tariff issues. Meanwhile, the Computer & Communications Industry Association, representing the American ICT sector, has joined the pressure campaign, demanding the export restrictions be lifted. In response, the National Geographic Information Institute, under the Land Ministry, issued a tender earlier this month for an urgent study on export policy for spatial information assets. The study is expected to propose phased export strategies beyond 2027 and address issues such as digital service taxes and the extraterritorial application of domestic laws. 'It is about objectively assessing the national interest. If we find blind spots or weaknesses, we plan to establish countermeasures,' a Land Ministry official said. Scholars and experts continue to urge caution, citing the potential national security risks of exporting high-precision maps capable of revealing sensitive facilities. While local firms such as Naver and Kakao provide maps with blurred, camouflaged or low-resolution images of secure sites, Google has so far agreed only to apply blurring. Apple, in contrast, reportedly indicated its willingness to comply with all government conditions, including camouflage and resolution adjustments, while also operating its servers within Korea. Experts warn that approving the US firms' requests could open the floodgates for applications from companies in China and elsewhere, making it difficult for Korea to deny future requests. There are particular concerns about China's data security law, which could require any exported map data to be shared with the Chinese government. Given the stakes, experts argue that unless security risks can be fully mitigated, the government should deny the export requests. Some suggest a different path: commercializing domestic map data to generate revenue. 'Demands for access to our high-precision map data will only intensify,' said Choi Jin-mu, a geography professor at Kyung Hee University. 'If we can no longer protect it, we should monetize it and reshape the ecosystem.'
Korea Herald
05-06-2025
- Korea Herald
Beach getaways this summer
Stay cool with water sports, rail biking, sunset strolls, foodie tours, mud slides and more Summer starts at the beach. This rings truer than ever now for Koreans, caught off guard by an exceptionally hot morning last month that recorded 23 degrees Celsius, the highest morning temperature for that month in 118 years. The unusual climate condition has sent officials at beach towns from Incheon to Busan scrambling to open up their hot spots as early as late this month. First in line is Haeundae Beach, known for its white sand, shallow waters and calm waves. The beach along the east coast of South Korea's second-largest city will open June 21, not only receiving bathers earlier than usual but also running two weeks longer than the previous year, through Sept. 14. Warm waters contributed to the early opening, according to a city official. 'Sea temperatures have risen, and they're staying warmer,' the official said, adding that an early opening could be the new normal for beaches like Haeundae. From June, Haeundae Beach will be open from 9 a.m. to 6 p.m., and until 8 p.m. from mid-July to mid-August during peak season. A relatively crowd-free trip is possible in September, according to the Busan city official. 'The July-August period is packed with people everywhere near Haeundae. September isn't that bad for families with children who need space and distance from the summer crowds,' the official said. All-in-one beach Opening the same day as Haeundae Beach is Eulwangni Beach, located on the west side of the island of Yeongjongdo in Incheon. The beach is a National Tourist Site, a designation the Land Ministry gave to 101 local travel destinations of significance through 1993. The recognition acknowledges an exceptional variety of activities accessible to beachgoers. Eulwangni offers water activities like surfing and boat fishing. The beach maintains a playground for children, an elevated spot near a breakwater where you can hear the waves crash up close and a grassy field where you can unwind in a beach chair. Eulwangni is known for its spectacular sunset view along the shoreline. 'It's around 7:30 p.m. that the radiance of the sunset reaches its height,' an Incheon city official said. The more outdoorsy types should try rail-biking at Yeongjong Seaside Rail Bike, a rail bike compound where a four-seat, pedal-powered vehicle cruises down 5.6-kilometer tracks along the Eulwangni shoreline. Eulwangni is a 15-minute drive from Incheon International Airport. Bus 302 or 306 from Platform 7 at the airport will take you to the beach in under 30 minutes. Another option is to take Bus 306 at Exit 3 of Dongincheon Station on Seoul Subway Line No. 1, which will also take you right to the beach. The beach will be open through Sept. 7. Foodie tour Gyeongpo Beach in Gangneung, Gangwon Province, is a must-visit. It's the largest of its kind along the east coast, frequented by those looking for a seafood feast after some fun on the beach. Diners look for one thing in particular: snow crabs. The restaurants get most crowded during summer as people flock for the snow crab's feathery, red-and-white meat. A crab feast at Gyeongpo Beach is best complemented by forest bathing, experienced in the lush pine forest along the beach that emits phytoncides — aromatic tree oils believed to be therapeutic. Those opting to burn more calories can go hiking on Gyeongposan, a nearby mountain, or biking along Gyeongpoho. Gyeongpo Beach will open on June 28. Mud festival Daecheon Beach — the largest beach on the West Sea in Boryeong, South Chungcheong Province — is best known for the Boryeong Mud Festival, which will run from July 25 to Aug. 10 this year. At Mud Expo Plaza, guests are invited to take part in a variety of programs involving mud including mud slides, mud runs and mud baths. Offerings include mud saunas and massages as well as mud rooms employing 'ondol,' the traditional Korean underfloor heating system. Children as young as three can take part in the festival under the guidance of adults. Drone shows, fireworks and K-pop performances are some of the special events being planned for this year's festival.
Korea Herald
30-05-2025
- Business
- Korea Herald
Chinese homeownership continues to rise in S. Korea, prompts bill to limit purchases
Chinese ownership of homes in South Korea continues to rise, accounting for the majority of properties owned by foreigners here, new government data shows. According to data released Friday by the Land Ministry, the number of foreign-owned homes exceeded 100,000 for the first time. As of December last year, the total stood at 100,216, up 5,158 from six months earlier. Foreign ownership accounted for 0.52 percent of all homes nationwide. The number of individual foreigners who owned homes was 98,581. By nationality, Chinese nationals owned the most homes at 56,302, representing 56.2 percent of all foreign-owned homes. This marks a steady rise from 44,889 homes, or 53.8 percent, two years earlier. Americans followed with 22,031 homes, or 22 percent, and Canadians with 6,315 homes, or 6.3 percent. About 72.7 percent of foreign-owned homes were located in Greater Seoul. Gyeonggi Province had the highest number with 39,144 homes, or 39.1 percent, followed by Seoul with 23,741 homes (23.7 percent) and Incheon with 9,983 (10 percent). By city, Bucheon in Gyeonggi Province topped the list with 5,203 foreign-owned homes, followed by Ansan (5,033), Suwon (3,429) and Pyeongtaek (2,984), all of which are in the same province. Amid the rise in foreign homeownership, Rep. Koh Dong-jin this week proposed a bill to introduce a land transaction permit system for foreigners in the Seoul metropolitan area and to apply the principle of reciprocity when foreigners purchase land in Korea. While Chinese nationals face few hurdles in buying land and apartment complexes in Korea, South Koreans are barred from purchasing land in China. For homes, they must reside in China for more than a year before becoming eligible to buy property.
