11+ hour, 6+ min ago   (616+ words) New land transaction permit applications for Seoul apartments totaled 3,012 in August, the lowest level since the entire city was designated a permit zone last October. Applications have now declined for four consecutive months after peaking at 8,896 in April. The Seoul…...

7+ hour, 13+ min ago   (650+ words) The Saemangeum Development and Investment Agency is shifting its development approach from private investment-led to public-led after 35 years of delays, with a comprehensive overhaul of land-use plans. Hyundai Motor Group plans to invest 9 trillion won (approximately $6.7 billion) by 2029 to build…...

8+ hour, 7+ min ago   (472+ words) LG CNS, the IT services arm of South Korea's LG Group, has received an appreciation award from Indonesia's Directorate General of Taxes in recognition of its work building and stabilizing Coretax, the country's next-generation tax administration system. Coretax integrates previously…...

8+ hour, 18+ min ago   (932+ words) South Korea's National Tax Service has launched tax audits of 41 market-disrupting businesses accused of inflating costs and shifting price burdens onto consumers ahead of the Chuseok holiday. The targets include 11 egg producers and other agricultural and livestock companies, 12 grain and…...

8+ hour, 52+ min ago   (281+ words) The Ministry of Agriculture, Food and Rural Affairs has been conducting the nationwide survey since May. Under the current Farmland Act, farmers or agricultural corporations that acquire farmland are in principle required to cultivate the land directly, and the law…...

9+ hour, 1+ min ago   (310+ words) Lexus's flagship premium sedan, the ES, is entering the South Korean market with its first-ever battery electric vehicle (BEV) lineup following a full eighth-generation redesign. Lexus Korea announced on October 14 that pre-orders for the "All-New ES" are now open at…...

9+ hour, 23+ min ago   (234+ words) South Korea's government is raising the standard construction cost used to determine price ceilings for apartments subject to the price cap on new homes by 4.07%. The increase is expected to further drive up sale prices for newly supplied apartments in…...

9+ hour, 36+ min ago   (559+ words) A governance reform package aimed at limiting financial holding company chairmen to three consecutive terms has been stalled in South Korea's National Assembly for months. The proposal was referred to a bill review subcommittee last month but failed to make…...

9+ hour, 39+ min ago   (283+ words) Semiconductor and power plant environmental equipment led the order intake. In March, the company signed a contract to supply eco-friendly equipment to the Tunghsiao liquefied natural gas (LNG) power plant in Taiwan. In its core semiconductor greenhouse gas reduction equipment…...

9+ hour, 56+ min ago   (427+ words) South Korean restaurant operators are facing structural pressure in which they take home less and less money even as sales climb. The share of revenue consumed by the so-called "prime cost" — food ingredients plus labor — surpassed 70% for the first time…...