For those that may be interested in the business side of things. This article does a good job at describing the current state of affairs.
From the Vancouver Sun: South Korea’s chaebol face reforms.
New president moves slowly to rein in powerful industrial conglomerates that dominate the economy
Most recently, the chaebol have become bloated oligarchies as South Korea has shifted from being a highly equitable society in the 1990s to developing a wealth gap approaching the level where it may threaten social cohesion.
Sales of housing units in South Korea dropped to a seven-year low in February, the government said Thursday, highlighting a prolonged recession in the country’s real estate market.
The number of home transactions came to 47,288 last month, down 14.2 percent from the same month last year, according to the Ministry of Land, Transport and Maritime Affairs.
The figure is the lowest since 2006 when the government began tracking home sales, it said.
Having done some real estate research back in Canada, I peek up a little when I see certain phrases in this area. “Lowest since….” “Seven-year low….” are generally key indicators when to buy real estate. Does this guarantee anything? Never. It does help you make better decisions though.
I would love to get an older Korean house, modernize the hell out of it and enjoy a nice mountain view!
Read the whole article: