The South Korean film, Parasite made a clean sweep at the 2020 Oscars. For the first time in history, a non-English language film won the main award: the Oscar for Best Film. So if this were not VisualPolitik, you could be mistaken for thinking that South Korea is at the top of their game.
However, you know that on this channel we like to dig deeper. And the truth is that the South Korean economy is facing many problems, in addition to the coronavirus. In a past video, we told you how the South Korean model seems to be exhausted. In today’s video, we are going to talk about the other big problem that has all the economists in South Korea on edge: the potential bursting of the real estate bubble that the country is starting to feel the effects of. In fact, over the last few years, Seoul has become one of the cities with the most inaccessible housing in the world. In relative terms, it is more expensive than cities like Paris, New York, or Singapore.
But how badly is South Korea suffering from a housing bubble? What are the consequences? How do they propose to avoid it? In this video, we tell you all the details.
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