Land owned by foreigners in S. Korea increased 1.3% in past 6 months
Updated: 2021-11-26 08:30:17 KST
The amount of land owned by foreigners in South Korea has increased 1.3 percent over the past six months.
According to the land ministry foreigners owned almost 257 million square meters of land as of the first half of this year roughly a quarter of a percent of the country's territory.
The value is estimated at 26.6 billion U.S. dollars up point-6 percent on-year.
The ministry attributed the rise to an increase in inheritance by international children of Korean parents and Koreans who own land becoming foreign nationals.
Americans held the majority -at 53 percent followed by Chinese, Europeans, and Japanese.