Increasing amount of Chinese-owned land in S. Korea 중국인, 제주도 땅 급속 잠식

There has been a massive surge in Korean land being bought up by Chinese property investors... namely on Jeju Island. The amount of land owned by Chinese has risen from 20-thousand square metres in 2009... to 5-point-9-2 million in June this year... that′s around twice the size of Seoul′s Yeouido area, dubbed by some as ′Korea′s Manhattan.′ This trend follows the launch of an immigration scheme in 2010... that grants local medical, education and employment benefits to foreign investors and their families who′ve lived on Jeju Island for five years,... after buying property worth 500-thousand U.S. dollars. The Jeju provincial government and the Ministry of Justice launched the investment program to raise funds and internationalize the island.... But the plan may backfire, as the alarming rate of Korean land being owned by Chinese investors... could lead to new problems down the line.