According to the article Chinese nationals make up 56% of the suspicious property transactions currently being investigated. Americans make up 21%, Taiwanese 8%, and Canadians 6.6% of the additional suspicious real estate cases:
![A view of apartment complexes seen in Jamsil in southern Seoul [YONHAP]](https://i0.wp.com/koreajoongangdaily.joins.com/data/photo/2023/07/03/d2f01153-3987-493d-94e5-72deffd1bc71.jpg?w=640&ssl=1)
A view of apartment complexes seen in Jamsil in southern Seoul [YONHAP]
The Korean government detected over 400 suspicious land transactions made by foreigners between 2017 and 2022, with more than half of the cases linked with Chinese nationals.
The Ministry of Land, Infrastructure and Transport reported 437 land acquisitions deemed illegal to related investigation agencies following its large-scale nationwide investigation conducted from February through to June. Out of a total of 14,938 foreign land transactions between 2017 and 2022, the investigation then focused on 920 suspicious cases, in which individuals involved were asked to provide supporting documents for further examination. (…..)The investigation identified various violations, with the most common being the manipulation of reported transaction amounts and contract dates, with 419 cases of misreported contracts. Additionally, 61 cases were suspected of tax evasion through expedient gifting, and 35 cases raised suspicions of illegally imported funds from overseas.
Joong Ang Ilbo
You can read more at the link.