foreigner own jeju island

Foreigners own 0.51 percent of land on South Korea's popular resort island of Jeju, the provincial government said Saturday.

The regional government said based on data collected from its real estate trade management system, the total value of land owned by foreigners reached 237.8 billion won ($209.7 million) as of the end of last year.

The island formed by volcanic activity is located off South Korea's southern coast and is spread over 1,848.5 square kilometers, with foreign nationals owning 9.51 million square meters of the total.

By nationality, U.S. citizens held the most land at 4.14 million square meters, followed by Japanese and Chinese nationals.

Japanese citizens held 2.22 million square meters of Jeju land, with Chinese ownership hitting 1.41 million square meters.

The latest findings showed foreigners preferred land on the southern part of Jeju around the city of Seogwipo that is close to the Jungmun Tourist Resort Complex and Seogwipo World Cup Stadium.

The island, meanwhile, has seen a rise in foreign visitors in recent years and was named one of the new seven natural wonders of the world in a worldwide poll late last year.