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Foreigners Own 0.2% of S. Korean Land

Written: 2016-12-23 08:33:06Updated: 2016-12-23 08:41:30

Foreigners Own 0.2% of S. Korean Land

Government data shows that two-tenths of a percent of South Korean land are now owned by foreigners.

According to the Land Ministry on Friday, foreign individuals and companies owned land spanning 232-point-23 million square meters during the first half of the year, up by three-point-96 million square meters six months earlier.

The growth is attributed in part to the purchase of property measuring two-point-49 million square meters by China’s Anbang Insurance Group, which acquired South Korea’s Tongyang Life Insurance last year.

By nationality, Americans owned 51 percent, or 118-point-38 square meters of the total land held by foreigners. Europeans followed at nine-point-two percent, Japanese at eight-point-one percent and Chinese at seven-point-two percent. 

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