[Photo News] Most expensive land in Korea

(Yonhap)

The Ministry of Land, Infrastructure and Transport has revealed Tuesday that the most expensive real estate in South Korea is the Nature Republic cosmetics store located in Myeong-dong, Seoul, valued at 183 million won ($163,000) per square meter. This is the 16th consecutive year it has held the position, dating to 2004. The second and third most expensive lots were also located in the Myeong-dong vicinity: the Woori Bank headquarters (177.5 million won per square meter) and Uniqlo’s Chungmuro branch (87.2 million won per square meter). 

The ministry said that as of Jan. 1 this year, the official land price per 500,000 parcels of land increased by 9.42 percent on-year. (Yonhap)