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'Korea needs transparent property market'

Cho Chung-un The Korea Herald
'Korea needs transparent property market' - Korea - Real Estate Market - Investment - Foreign Investors

The government yesterday launched an advisory board for foreign investors on the country's real estate market as part of its efforts to promote foreign direct investment in times of economic downturn.

The 13 foreign and local experts will help address difficulties in making investments and provide their views on Korea's real estate market, officials said.

"The Korean government wants to draw FDI, but don't know what are issues and hurdles for foreign investors," Chris Sausser, executive vice president of Gale International Korea, said. Sausser is one of the advisory members named yesterday.

"With the Lone Star situation, many foreigners now think that maybe Korea is not ready (as an investment destination)... The advisory board will discuss how we could make it (the situation) better," he told The Korea Herald.

Lots of paper work and many platforms prevent foreign investment from reaching Korea, he added.


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