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Meanwhile, home sellers are hopeful that lower mortgage rates will attract buyers.
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However, critics in the nation have expressed concern that Google could now come in and monopolize the market. "If Naver and Kakao are weakened or pushed out and Google later raises prices, that becomes a monopoly. Then, even companies that rely on map services — logistics firms, for example — become dependent [on Google]," geography professor Choi Jin-mu told Reuters.