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Korea seeks land tax hike |
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Korea's ruling Uri Party are moving fast to restrict private ownership of land.
Korea's ruling Uri Party are moving fast to restrict private ownership of land in a desperate bid to cool down the property market despite criticism that the measures may contravene individual property rights ensured in the Constitution and also slow economic growth.
Landowners also must face heavier taxes for capital gains resulting from land ownership.
Full story in Korea Times
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