China's land grab in key area of Seoul sparks fury

The Chinese government’s purchase of approximately 4,000 square meters of land in one of Seoul’s most strategically sensitive districts has sparked a firestorm of controversy in Korea. The revelation has reignited calls for reciprocal regulations on cross-border real estate transactions, deepened national security concerns and drawn sharp criticism of political leaders over their continued inaction. According to an exclusive report by a local media outlet on Tuesday, supported by Seoul's official certified copy of the land registry, the Chinese government purchased 11 plots totaling 4,162 square meters in Itaewon-dong, Yongsan District, for 29.92 billion won ($21.4 million) in December 2018. The final payment was completed in July 2019. Land registry records list the buyer as the People’s Republic of China, marking the first known instance of a foreign government directly acquiring property in the Yongsan area of Seoul. What makes the deal particularly sensitive is the location. The property lies just over one kilometer away from several of Korea’s most sensitive security sites,Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times