Korean small investors sell stocks to buy luxury homes.

According to the report from Yonhap News Agency on the 14th, data shows that approximately 37 trillion Korean won from the funds raised in South Korea this year for stocks and bonds has flowed into the housing market. Among them, about 65%, totaling 24 trillion Korean won, has been used for buying houses in Seoul, with funds concentrated in the three affluent districts of Gangnam, Seocho, and Yeouido. According to an earlier report by Yonhap News Agency, Gangnam, Seocho, and Yeouido are well-known wealthy areas in Seoul.