> If it's so empty, why hasn't it been filled up by people looking for low-cost housing? I'm no expert in the exact situation of Songdo, but I think I can answ

> If it's so empty, why hasn't it been filled up by people looking for low-cost housing? I'm no expert in the exact situation of Songdo, but I think I can answer this. It's because no one wants it to be low-cost housing, least of all Songdo's residents (there must be some). Housing price is akin to religion in South Korea. Those who finally buy a house, frequently do so only after working for a decade and making heavy loans, and they may literally become homeless if housing prices drop. They will do everything to keep the price afloat. So, even if a construction company finds half of the apartment units empty, it cannot readily offer reduced prices to potential buyers, without angering everyone already there. You don't want to face a thousand angry Koreans. (If only they were half as angry at the daily procession of political corruption... sigh.)