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Economy

'Sinkhole' movie resonates with Koreans who can't afford homes

Price-to-income ratio of houses in Seoul rose to an all-time high last year

The economic themes of the film "Sinkhole" are playing out in real life. A study by the land ministry found that the rate of home ownership in South Korea fell last year for the first time since 2014. (Screenshot from Showbox's website) 

SEOUL -- In "Sinkhole," this summer's South Korean blockbuster, the breadwinner of the Park family toils in an office, putting away every spare penny toward his goal of buying a home. After 11 years of work, he cobbles together enough savings to purchase an apartment, an increasingly important milestone and class distinction in his country.

The new place isn't fancy, but Park proudly exclaims "We're homeowners!" as he moves in with his wife and son on a rainy day. Park hopes that his years of sacrifice will pay off and home ownership will anchor the family in the middle class.

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