SEOUL, SOUTH KOREA-The South Korean real estate market is in trouble as prices are down 10% in the greater Seoul region and down 20% in other regions of the country.
Meanwhile, large-scale commercial projects have halted due to a lack of finance with demand for homes taking an especially big hit due to a high household debt.
After investing in numerous construction projects during the real estate boom, the South Korean government and many companies have become more selective at present.For the full story, go to The Wall Street Journal.
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