Newsstands in Seoul could be eliminated by the end of 2009.

The Seoul city government announced last week it has revised regulations on commercial installations on roads, which affects newsstands, kiosks, shoe-repair shops and others, and will go into effect in mid-November if the city council approves the revisions, The Korea Times reported over the weekend.

The revisions state that those owning more than 100 million won (US$108,589 or 76,861 euro) worth of property will not be allowed to receive new licenses for newsstands or to renew their existing licenses. People in absolute poverty will be given a temporary two-year license, but will have to discontinue their businesses by the end of 2009, The Korea Times reported.

The licensing system began in the 1980s when the government tried to give the poor more financial support. Yet, among Seoul's 3,236 kiosk owners, 28 have more than 600 million won worth of real estate and 116 of them owned more than two houses as of February.

Only 736, or 22 percent of kiosk owners, were in financial distress, the Times stated in the article, which did not mention if distribution points will be added elsewhere.