Group 1 - The South Korean Ministry of Land, Infrastructure and Transport will implement new regulations to restrict foreign purchases of residential properties, effective from the 26th of this month for one year [1][2] - The new regulations designate the entirety of Seoul and specific areas in Gyeonggi Province and Incheon as "foreign land transaction permission zones," requiring foreign individuals, companies, or government entities to obtain local government approval for residential purchases over 6 square meters [1][2] - Recent data indicates a significant increase in housing transactions by foreigners in the capital region, rising from 4,568 units in 2022 to 6,363 units in 2023, and further to 7,296 units last year [1] Group 2 - The new regulations aim to address concerns over foreign speculation in the housing market, particularly as South Korean citizens face restrictions on mortgage loans, with limits set at 600 million KRW (approximately 3.07 million RMB) [2] - The government intends to curb foreign buyers from leveraging financial advantages to inflate property prices and will enhance scrutiny over the declaration of overseas funding sources [2] - Transactions suspected of being linked to money laundering by foreign buyers will be reported to relevant tax authorities in other countries [2]