Chinese people purchased nearly 7,000 buildings in South Korea last year, with more than half of the properties being in the Greater Seoul area, a ruling party lawmaker said.
A total of 6,640 buildings, including apartments, were purchased by Chinese nationals last year, and 2,659 of them are located in Gyeonggi Province, which surrounds the capital city of Seoul, Chung Woo-taik, a lawmaker of the ruling People Power Party, said in a report, citing the National Assembly Research Service.
Chinese-owned properties accounted for 78.1 percent of total foreign buying in Gyeonggi Province last year, followed by 408 buildings purchased by Americans.
Chinese people also bought 1,220 buildings in Incheon and 736 buildings in Seoul last year, according to the report. (Yonhap)
By Nam Kyung-don (firstname.lastname@example.org