Emergency Report by Minister Kim Hyun-mi of the Ministry of Land, Infrastructure and Transport on the 2nd
[Asia Economy Reporter Lim On-yu] President Moon Jae-in on the 2nd instructed real estate measures focusing on strengthening the burden on speculative homeowners, including multi-homeowners.
On the afternoon of the same day, President Moon received an urgent report on housing market trends and response measures from Minister of Land, Infrastructure and Transport Kim Hyun-mi at the Blue House. Afterwards, he presented policy directions to Minister Kim, including strengthening the burden on speculative housing, expanding housing supply, and easing tax burdens for first-time homebuyers.
President Moon ordered, "Strengthen the burden on speculative homeowners such as multi-homeowners," emphasizing, "There is a strong public consensus that speculative purchases must be regulated."
He also instructed, "Although the government has supplied a considerable amount of housing, there is a perception that it is insufficient, so increase the supply volume even if it requires discovery." As a measure to expand supply, President Moon suggested expanding the pre-subscription volume for the 3rd new town development.
Furthermore, he emphasized, "Consider measures to ease the tax burden for first-time homebuyers such as youth and newlyweds," and "Devise ways for first-time homebuyers to receive housing more easily."
President Moon reiterated the government's determination to stabilize housing prices. He told Minister Kim, "The determination to definitely control housing prices is important," and added, "If supplementary measures are needed, do not hesitate to create additional measures at any time."
The Blue House stated, "The specific policy measures following the urgent report and presidential instructions on this day will be prepared by the Ministry of Land, Infrastructure and Transport in consultation with related ministries."
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