Chinese, US nationals major buyers of apartments in South Korea

SEOUL: More than 80% of all apartment purchases by foreigners over the past seven years were made by US and Chinese nationals, an opposition party lawmaker says.

According to relevant documents, which were handed over to Rep. Yang Kyung-sook of the Democratic Party of South Korea from both the Land Ministry and the Korea Real Estate Board, foreigners bought 29,792 apartments in the local property market between January 2015 and August 2022.