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South Korea Development And Development

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March 18, 1990 | KARL SCHOENBERGER, TIMES STAFF WRITER
Hong Won Tack earns a modest salary--about $24,000 a year--as an economics professor at Seoul National University. But that did not stop him from getting rich. He spotted an opportunity to invest a few thousand dollars in real estate here in the 1970s, then watched his investment go through the roof. One parcel of land that he bought south of the Han River increased 100 times in value before he sold it for $500,000 two years ago.
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BUSINESS
March 18, 1990 | KARL SCHOENBERGER, TIMES STAFF WRITER
Hong Won Tack earns a modest salary--about $24,000 a year--as an economics professor at Seoul National University. But that did not stop him from getting rich. He spotted an opportunity to invest a few thousand dollars in real estate here in the 1970s, then watched his investment go through the roof. One parcel of land that he bought south of the Han River increased 100 times in value before he sold it for $500,000 two years ago.
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