The Korea Herald

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[Monitor] Property values of 5 major groups surge

By Korea Herald

Published : Dec. 18, 2019 - 16:48

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As South Korea’s overheated real estate market continued to reel from the repercussions of the Moon Jae-in administration’s rigorous anti-real estate deal regulations announced earlier this week, a civic group released data showing that major businesses are responsible for the investment hype.

According to the Citizens’ Coalition for Economic Justice, land owned by five major conglomerates -- Hyundai Motor, Lotte, Samsung, SK and LG -- saw their property value surge 61 trillion won ($52.4 billion) since 1995.

The group accused the previous governments and present administration of failing to obligate firms to properly disclose their land assets.
(khnews@heraldcorp.com)