NewsLetter DailyWeekly
My HanCinema | Sign up, Why ? Your E-mail   Password    Auto| Help
HanCinema :: The Korean Movie and Drama Database, discover the South Korean cinema and drama diversity Contact HanCinema HanCinema on TwitterFaceBook HanCinema PageHanCinema on Twitter

Big Businesses Own Bigger Chunks of Korean Land

2015/09/27 Source

The area of land owned by the nation's top 30 companies has risen to 34 times the size of Yeouido in Seoul over the last decade. Its total value rose by W115 trillion (US$1=W1,195).

Data submitted to New Politics Alliance for Democracy lawmaker Lee Chan-yeol by the Ministry of Land, Infrastructure and Transport show that 1,056 subsidiaries of the top 30 private and public businesses owned 824 of land across the nation as of July.

That is equivalent to 0.82 percent of Korea's total land mass. Compared to 10 years ago, the total area of land owned by the top 30 companies increased by 290

The value of their land holdings surged 167 percent from W68.5 trillion in 2005 to W183.3 trillion this year.

Since land prices across the nation increased an average of 68 percent since 2006, the companies enjoyed disproportionate profits in valuation gains.

Gyeonggi Province saw the biggest rush of acquisitiveness, with the land owned by the big firms ballooning by 90, presumably because they prefer holdings close to the capital.

Source :

Copy & paste guideline for this article
Always put a link back to the source and HanCinema permalink

Creative Commons License"Big Businesses Own Bigger Chunks of Korean Land"
by HanCinema is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.
Based on a work from this source

Attention You're reading the news with potential spoilers, make them spoiler free, dismiss



 Previous news

Subscribe to HanCinema Pure to remove ads from the website (not for episode and movie videos) for US$0.99 monthly or US$7.99 yearly (you can cancel anytime). The first step is to be a member, please click here : Sign up, then a subscribe button will show up.


Remove ads

Sign up




Visible, hide

Learn to read Korean in 90 minutes or less using visual associations

About | Privacy policy | Contact | Partners

Mobile version