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Foreigner-Owned Land in Chungnam Surpassed 20 Million Square Meters
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The land owned by foreigners in South Chungcheong Province (Chungnam) was reported to have increased 450,000 square meters from the previous year's 19.729 million square meters, according to Chungnam.


The foreigner-owned land in Chungnam reached 20.179 million square meters as of the end of July, which is worth 954.9 billion won. This is the equivalent to a third of Gyeryong City (60.77 million square meters).


Aggressive investment attraction from foreign companies and the inflow of foreigners to Chungnam seemed attributable to the gradual increase in foreigner-owned land.


Foreigners acquired 521,000 square meter-lands and sold 191,000 square meter-lands in Chungnam in the first half of this year.


By regions, 8.546 million square meters are in Seosan followed by Gongju's 2.339 million, Boryeong's 1.944 million, Dangjin's 1.576 million and Taean's 981,000.


By landowners' nationality, the U.S. accounts for 12,044 million square meters (60%) followed by Asia's 4.024 million, the Americas (excluding the U.S.)' 1.315 million, China's 72,000 and Europe's 56,000.


Fifty seven percent of the land is owned by individuals while the rest belongs to corporations.


By land use, 56 percent of the land (11.27 million square meters) is used for forest lands and farms and 36 percent for factory sites.

Source Text


Source: Yonhap News (Jul. 19, 2012)


** This is the translation of a Korean article.

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