* Date : 2019-05-28
What are the causes of gentrification?
Gentrification has emerged as a chronic issue being faced by South Korean society in recent years. It has manifested in many trendy and popular neighborhoods around Seoul such as Gyeongridan, Seochon and Bukchon, resulting in rising rent and the subsequent relocation of long-time residents. Other locations that are popular with global tourists have also been no exception in experiencing the adverse effects of gentrification. Gentrification is regarded as a double-edged sword, often credited with urban renewal and at the same time, blamed for rising rent costs and property prices. In this week's edition of 'Foreign Correspondents', we sit down with our panel of journalists to talk more about gentrification phenomena and its possible solutions.