South Korea’s housing crisis worsens with new scandal

About This Source - Al Jazeera English

The video item below is a piece of English language content from Al Jazeera. Al Jazeera is a Qatari state-funded broadcaster based in Doha, Qatar, owned by the Al Jazeera Media Network.

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  • Al Jazeera English published this video item, entitled “South Korea’s housing crisis worsens with new scandal” – below is their description.

    Rising property prices in South Korea are putting house purchases beyond the reach of many young people.

    It has become one of the major issues in local elections taking place this week.

    The government promised to take measures to calm the market, and recently announced plans for more affordable housing.

    But a state-owned company is accused of insider trading, buying up land that will be used for housing in advance.

    Al Jazeera’s Rob McBride reports from Seoul, South Korea.

    Al Jazeera English YouTube Channel

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    In This Story: South Korea

    South Korea, an East Asian nation on the southern half of the Korean Peninsula, shares one of the world’s most heavily militarized borders with North Korea. It’s equally known for its green, hilly countryside dotted with cherry trees and centuries-old Buddhist temples, plus its coastal fishing villages, sub-tropical islands and high-tech cities such as Seoul, the capital.

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