Non-Koreans were inolved in some 567 suspected cases of real estate-related offenses in the past two years.

The land ministry said on Friday that it identified possible infractions among more than 20-thousand housing transactions in the cited period as part of a joint clampdown with the justice ministry and the customs service.

Among the suspected improprieties, 121 involved cases where foreigners brought in cash worth over ten-thousand dollars from overseas and forgoing customs declaration specifically to buy real estate in Korea.

Thirty other cases involved loans that lacked proper documentation, or those that lacked proof of interest payment.

In some cases, the ministry found that South Koreans were hidden buyers behind property deals signed by international buyers, in charge of purchases and tax payments.

Chinese nationals accounted for the lion's share at 314 or 55-point-four percent of the suspected total, followed by 104 U.S. citizens and 35 Canadians.

While strict lending rules are applied to Korean natives, foreigners enjoy more financial leeway when it comes to purchasing residential properties in Korea, such as access to loans from banks in their home country. This has raised the question of reverse discrimination against Korean nationals in light of limitations on such transactions.

The land ministry promised to notify relevant agencies of its findings and take follow-up measures including fines or criminal investigations.