Seoul Walk

Korea, acknowledged as the ‘Land of Morning Calm,’ is located in the heart of East Asia, occupying a mountainous peninsula, stretching about 500 miles south towards Japan. In recent years, Korea has made an outstanding progress in reforming its economy, which has attracted foreigners to invest in almost all sectors of economy.

Korea also holds the distinction of being a stable nation in both political and economical wise. All these have strengthened the real estate market in Korea. Investing in Korean real estate allows you to beat inflation, procure tax benefits, ensuring for cash flow, and above all helps you to effectively plan for retirement. In a snap shot, property market in Korea is unique and presents a range of distinctive features.

However, the prices of real estate in Korea are relatively high. The prices are even higher in such prominent areas as Seoul. But, investing in property market in Seoul provides tremendous benefits, due to such attractive features as landlord-friendly leasing system, market lucidity, and easy convertibility of capitals.

The capital as well as commercial center of Korea - Seoul boasts of the largest concentration of commercial property in the nation, with its two significant business districts such as Yoido, which is home to a number of leading financial institutions as well as the Korean Stock Exchange, and Kangnam area. When compared to other prominent Asian global commercial destinations, Seoul’s property market is about 50% larger than that of Hong Kong and about 100% larger than that of Singapore.

The housing or residential development in the country is mostly dominated by the public services, with the instructions of Ministry of Constructions. Housing developments in Korea are primarily undertaken through government agencies such as the Korea National Housing Corporation and the Korea Land Development Corporation.

One of the greatest specialties of Korean property market is leverage, ie, its ability to tie up an important asset for exceptionally small amount. Another feature of investing in Korean property market is freedom, ie it can fetch you good income without affecting or hindering your present job.

Mostly, people invest in Korean real estate in order to provide it for rent or lease. Literally speaking, tenants pay for your investment property in the form of rent. Also, a great feature of Korean real estate is that it provides you with a regular cash flow, which turns out to be an important income, particularly when the mortgage on property is completely paid off. Above all, Korean real estate is regarded as one of the greatest assets. In short, with these unique features, perhaps there would be nothing perfect than investing in a real estate in Korea.

The laws pertaining to buying or selling of real estate in Korea is quite liberal and simple. Further, in contrast to some Asian nations imposing restrictions on foreigners to invest in real estate, Korea does not put forward any specific restrictions for foreigners to buy a property here, except for complying with the FLAA Act or the Foreigner’s Land Acquisition Act.

In order to register the property with the court registry, alien registration number is required. Further, a foreigner is required to submit relevant documents with the local government office within 60 days of the date of the execution of the purchase agreement. Likewise, a foreigner is required to obtain permission from the local government office, if he is interested to invest in any of the protected areas as stated by the FLAA. A resident foreigner can easily acquire a property in Korea, particularly if he has been in the country for more than six months. Some local banks even provide mortgages to resident foreigners just as they provide it to Koreans.

But, in order to ensure secure real estate transaction, it is important that you must have a clear idea on the steps involved in the process of buying a property in Korea. Further, prior to signing a purchase agreement, it is important to thoroughly check the status of the building or land you are going to acquire. Hence, it is recommended that you hire the service of a professional attorney or a reputable real estate agent.

With a myriad of real estate firms and property builders in the scenario, property search in Korea is not at all a tedious process. Apart from property search, these service providers render a range of other services in connection with sales, leasing, portfolio management, valuation, research, and consultation.

The US has become less expensive for expatriates relative to cities in Asia and Africa over the past year, says a cost of living comparison of 228 global cities.

The cost of living comparison prices goods and services that expatriates spend their salaries on, and reports indexes for 13 different basket groups using New York (100) as the base.

In terms of overall cost of living, New York is now the 28th most expensive global city and the 61st in terms of groceries. New York has dropped primarily due to the weakness of the US Dollar as well as the economic slowdown which appears to have slowed the increase in prices relative to other global cities.

The global cost of living comparison conducted by www.xpatulator.com shows London is the most expensive global location for expatriates, while 3 of the top 5 most expensive cities are in Asia, with Tokyo, Seoul, and Hong Kong ranked 2nd, 3rd, and 5th respectively in terms of overall cost of living.

Overall Cost of Living Comparison – Top 10

The 10 most expensive global cities for expatriates to live, based on overall cost of living (Index is in brackets) as at March 2008 are:

1. London, United Kingdom (126.63)

2. Tokyo, Japan (121.88)

3. Seoul, Republic of Korea (119.54)

4. Oslo, Norway (115.39)

5. Hong Kong, China (113.00)

6. Copenhagen, Denmark (112.63)

7. Moscow, Russia (110.35)

8. Geneva, Switzerland (110.06)

9. Hamilton, Bermuda (109.63)

10.Luanda, Angola (108.51)

This means that overall goods or services that cost USD$100 in New York, cost the equivalent of USD$126.63 in London, and USD$108.51 in Luanda.

Overall Cost of Living Comparison – Bottom 10

The bottom 10 (least expensive) cities for expatriates to live, based on overall cost of living (Index is in brackets) as at March 2008 are:

1. Harare, Zimbabwe (16.44)

2. Phnom Penh, Cambodia (44.89)

3. Sanaa, Yemen (44.95)

4. Dushanbe, Tajikistan (51.24)

5. Tripoli, Libya (53.22)

6. Quito, Ecuador (53.23)

7. Buenos Aires, Argentina (53.25)

8. La Paz, Bolivia (53.54)

9. Asmara, Eritrea (54.49)

10.Tashkent, Uzbekistan (56.06)

This means that overall, goods or services that cost USD$100 in New York, cost the equivalent of just USD$16.44 in Harare, and USD$53.54 in La Paz.

The cost of living varies from one location to another and by type of expense, mainly due to local supply and demand variations in each location. In some cities, groceries are more costly while accommodation is relatively less costly and vice versa.

In terms of groceries Seoul is the most expensive. Africa however has 6 of the 10 most expensive cities, Brazzaville, Accra, Lagos, Abidjan, Kinshasa, and Luanda.

Grocery Cost of Living Comparison – Top 10

The top 10 (most expensive) global cities for expatriates to live using the price of groceries as at March 2008 are as follows:

1. Seoul, Republic of Korea

2. Brazzaville, Congo

3. Ashgabat Turkmenistan

4. Accra, Ghana

5. Lagos, Nigeria

6. Copenhagen, Denmark

7. Abidjan, Cote D’Ivoire

8. Kinshasa Congo Democratic Rep

9. Luanda, Angola

10.Oslo, Norway

When establishing a salary for a global assignment it is essential that the items the expatriate will actually spend their salary on are included in the cost of living calculation. Similarly the items that are provided for the expatriate should be excluded from the cost of living calculation. If the incorrect items are included or excluded, large variations in the calculation of cost of living are likely. As an example London is ranked as the most expensive global location in terms of overall cost of living, but is only ranked 26th most expensive location for groceries.

Africa and Asia are becoming relatively more expensive than other global cities after lagging for decades; organisations need to factor this into expatriate pay calculations for global assignments.

The rank of all 228 global cities, in terms of overall cost of living, is on the website at http://www.xpatulator.com/main/cities/

Suwon is the capital of Gyeonggi Province and the largest city of the province with a population of over one million. The city is situated at a distance of over 30 km from Seoul. Founded in the 18th century as a fortress city, Suwon has a rich and varied history and it is the only remaining completely walled city in South Korea. The walls of this city are categorized as a world heritage site and it showcases the royal past of South Korea. Suwon is traditionally known as “The City of Filial Piety”. At present, this city has emerged as a major industrial city of South Korea housing a large number of factories. it has also been recognized as South Korea’s leading city in digital technology. The city offers good transport facilities with two motorways including the national railway network and the Seoul Metropolitan Subway. All this make the city a perfect destination for commuters. Besides, the hotels in Suwon also serve as important features for drawing tourists.

Suwon is a major educational and sports center of the country. There are about 14 university campuses here offering wide scope for students. Besides, there is good scope for footballers as well. In fact, this city is also domestically known as the footballing city. Various places of interest in Suwon include Hwaseong Fortress, Manseok Park, Woncheon Amusement Park, Everland Amusement Park, the Korean Traditional Folk Village, and various temples and tombs. There are an amazing number of clubs, bars, restaurants, hostess bars that you can visit and have a good time.

Suwon has a climate similar to Seoul’s as this city lies only 34 km away in a SSE direction from the Seoul. The wildlife in the city is quite similar to that of Gyeonggi-do province. A notable species, however, is the Suwon tree frog. This is one of only two tree frogs to inhabit the Korean peninsula and lives in the Gyeonggi-do area only. For food lovers, the city features a great variety of Korean dishes, which is served throughout the peninsula and has a wide variety of restaurants serving food from outside Korea as well.

There are many good hotels offering different facilities to suit the requirement and comfort of tourists. Some of the beach front hotels even offer lounge chairs to relax and lounge around. Castle Hotel, Hotel Korea, Central Hotel, Stay 7 Residence, Dormy Inn Suwon etc. are some of the good hotels for accommodation in Suwon.

Founded in the 18th century, Suwon is the only completely walled city in South Korea with a rich and varied history. The capital of Gyeonggi Province, this is one of the largest cities of the province with a population of over one million. The walls of this city are categorized as a world heritage site. They, in a way, showcases the royal past of South Korea. Suwon is traditionally known as “The City of Filial Piety”. The city offers some great accommodation options to its guests. Tourists in the city can stay at the best hotels in Suwon and enjoy a recreational vacation.

How to reach Suwon

Suwon is situated at a distance of over 30 km from Seoul. The city is well-connected with other important cities via good means of transportation. Cars, hired taxis, buses etc., are available that will make your journey easy. There are also good means of transport to move around freely within the city. The city offers good transport facilities with two motorways including the national railway network and the Seoul Metropolitan Subway.

Attractions of Suwon

Suwon is a major educational and sports center of the country. There are about 14 university campuses here offering wide scope for students. Besides, there is good scope for footballers as well. In fact, this city is also locally known as the footballing city. Various places of interest in Suwon include Hwaseong Fortress, Manseok Park, Woncheon Amusement Park, Everland Amusement Park, the Korean Traditional Folk Village, and various temples and tombs. There are some amazing clubs, bars, restaurants, hostess bars that you can visit and have good time.

General Information

Suwon has recently developed as a major industrial city of South Korea housing a large number of factories. This city has also been recognized as the leading city in digital technology in the country. The climate of the city is similar to Seoul’s as this city lies only 34 km away in a SSE direction from Seoul. Suwon is also a favorite place for food lovers. The city features a great variety of Korean dishes, which is served throughout the peninsula and has a wide variety of restaurants serving food from outside Korea as well.

Hotels in Suwon:

There are many good hotels offering different facilities to suit the requirement and comfort of tourists. Some of the beach front hotels even offer lounge chairs to relax and lounge around. Castle Hotel, Hotel Korea, Central Hotel, Stay 7 Residence, Dormy Inn Suwon etc. are some of the good hotels for accommodation in Suwon.

Korea, an intriguing land of romantic legends, ancient ruins, breathtaking landscape, teeming modern cities and natural wonders, is regularly recording the appreciating number of tourists from all over the world every year. Tourists are discovering the hidden treasure with delight from this part of the peninsular region. It has become the mature and stable democracy since 1953. Though previously dubbed as ‘The hermit Kingdom’, it is now flaunting its bright plumage like a proud peacock.

People on Korea travel, most frequently visit the capital city, Seoul, the largest of the Korean metropolis and the tenth largest city in the world. There are many soaring skyscrapers in this seething city, ringed by mountains. It also offers myriad of attractions and thus, several experiences with vibrant nightlife and memorable dining. Travel Korea to enjoy all these along with some below mentioned places of interest for the tourists.

Some places of tourists’ interest in Korea

• Andong- it has been the town of old culture and aristocrats. Andong folk museum and folk village display the relics of Korean culture. Traditional food is served in the restaurants. There is Hahoe Folk Village to its west, where the Mask Dance Festival is held in every autumn.
• Jeju Island- it is entirely a different world as it has got fantastic infrastructure with regard to tourists’ facilities and accommodation. The place is also well known as honeymooner’s delight. Its golden beaches and brightened landscape are really alluring. Jeju museum along with National museum and Folkcraft museum are worth visiting. Mt. Hallasan, present on this island, is the tallest mountain of the country. There is a Crater Lake, which should never be missed.
• Busan- it is the port city and the second largest metropolis in Korea. One can have a bird’s view of the city from the Busan tower. In its proximity, is the U.N. cemetery, famous burial ground for U.N. soldiers during Korean War, which attract lot of tourists.
• Seoul- it is the capital city having strong political and economic influence in Korea. It is a wonderful city having modern architecture, blended with traditional one. Monuments and palaces of intricately designed stones and modern skyscraper made up of glass and steel had made Seoul a great city. The Summer Palace in Seoul is remarkably a great piece of art and architecture.
• Haeinsa- it is the old Buddhist temples, built in ninth century. It is considered the holiest Korean shrine lying amidst eerie Gayasan National Park. The entire Buddhist scriptures are printed on thousands of wooden blocks.

Top Ten Sights to See on a Holiday in Asia

Asia is a huge place, bestriding the tropics and stretching from the mountains of Eastern Europe to the Siberian tundra, from the port of Vladivostok to the tip of Papua New Guinea. With the continent encapsulating such a vast area it’s hard to decide where to go and what to see. We look at the top ten sights to see and places to go while on a holiday to Asia, helping you narrow down your search.

10. The Mongolian Steppe

Our count down starts with some of the natural wonders that are on offer on an Asian Holiday, and the Mongolian Steppe is first. Staying in yurts, horse riding in unspoilt natural beauty and camel trekking in the Gobi desert are some of the highlights which are completely and wonderfully removed from anything in everyday life.

9. Mount Everest

The second of our natural wonders is Mount Everest. As the highest peak in the world, standing in the shadow of the mountain is absolutely awe inspiring and often life changing. One of the most incredible sights on our list, Everest is fairly low down because of its inaccessibility; to truly appreciate Everest’s beauty means climbing up to base camp or to the summit, which isn’t an option for most travellers for obvious reasons.

8. Seoul

As you would imagine, Asia has a huge number of villages, towns and cities, and the next five places in our list are taken up with some of the continent’s most incredible and exotic cities to visit.

Seoul is the first city in our top ten, and simultaneously one of the oldest and one of the newest. The city can trace its creation back to 18 BC, but most of the city was obliterated during the Korean War. Some important buildings, areas and historic palaces have been restored, but most of Seoul is populated with brand new buildings. Seoul is worth a visit because of its scale, scope and dynamism. Almost half of the population of South Korea live in the administrative limits of the city, and the city’s actual ground plan is huge - it has the second largest metropolitan area of any city in the world, and encompasses a vast amount for museums, bars, restaurants, stadiums and three world heritage sites!

7. Beijing

Beijing is often called the “Northern Capital” of China, and is the next city on our list. Beijing is a melding of old and new; a place where the skyline includes the Birds Nest Stadium and the Temple of Heaven, the CCTV tower and the Tian’anmen. The merging of the cultural, political, religious and economic forces in the city makes it a fascinating destination for any Holiday to Asia.

6. Hong Kong

Hong Kong is interesting as a destination for any holiday in Asia from its unique position in the world. As a special economic zone with huge cultural and political imperatives from China and Britain, the conurbation is a blend of the two cultures. As a city it is blooming and developing a singular personality, creating something completely new from the remnants of older regimes.

5. Toyko

The capital of Japan also mixes old and new, but with a pronounced slant towards the new. The atmosphere is electric and active, with a culture and society that is wonderfully alien (from a western point of view). It’s definitely worth a visit on an Asian holiday, even if it’s solely for the unique nature of the experience.

4.Moscow.

Moscow is almost the exact opposite to Tokyo. While not completely stuck in the past, the city does remain a gargantuan edifice of historical and religious importance, rooted in architecture that is incredible to behold. St. Basil’s Cathedral and the Kremlin in Red Square are often the focus, but the entire city has been designed with grandeur and influence in mind since the reign of the Tzars. A powerful and awe inspiring part of any Asian holiday.

3. The Forbidden Palace, China

The last three entries on our list are the work of human endeavour, famous structures that often took decades to build and many lives to create. They remain some of the most awe inspiring sights to see on any holiday to Asia, and are once in a lifetime experiences.

Number three on our list is the Forbidden Palace in Beijing. A part of Beijing’s attraction, the Palace is an amazing site in its own right. The Chinese imperial palace from the Ming Dynasty until the end of the Qing Dynasty (1368 - 1912), the group of buildings is huge, often given the name the forbidden ‘city’ rather than just ‘palace’ due to its scale and the facilities it encompassed. No one could enter or leave the palace without the Emperor’s permission, and the inner city became a symbol of China’s power and majesty.

2. The Trans-Siberian Railway

More of a whole journey than a destination in its own right, the Trans-Siberian railway straddles the spine of Russia in an epic and famous link between Moscow and Vladivostok. Passengers on the long distance train are embarking on their Asian holiday as soon as they step onboard, and whether they stopping along the way or just experiencing the journey, it will be a trip they never forget.

1. The Great Wall of China.

Though the idea of seeing the wall from space is a complete fallacy, it is easy to see why so many people believed it to be true for so long. The Great Wall of China is number one on our list, and given its scope, its awe inspiring presence and its great fame (which it more than lives up to) it is easy to see why. One of the top attractions in the world, let alone on a Holiday in Asia, the Great Wall of China is an absolute must see site.