Investment: South Korea eases restriction on overseas property purchases

South Korea's Ministry of Finance and Economy (MOFE), has said it will immediately raise the $500,000 ceiling on direct overseas investments for purchasing real estate to $1 million, and the cap on Korean businesses' direct overseas investment to $10 million, from the current $3 million.

The Korea Times, reports that the movie is expected to accelerate the country's capital account liberalization process.