Choi Mi-sook has never seen anything like the race for property in Dongtan. In the past two weeks, the estate agent said, the going rate for a small apartment has gone up by Won200mn ($132,000) — if you can find anyone willing to sell.
Dongtan, part of the city of Hwaseong on the fringes of Seoul, sits at the heart of South Korea’s “semiconductor belt”. Many would-be property buyers work for Samsung Electronics, where a deal agreed last month for employees to share the chipmaker’s blockbuster profits from an AI-led boom has sparked a rush to invest.
Many others in Dongtan work for SK Hynix, a rival chipmaker that handed employees a similar profit-sharing deal last year.
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