[Breaking] Hong Nam-ki "Considering Lowering Monthly Rent Conversion Rate to Ease Housing Burden"

Hong Nam-ki, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is explaining the "Key Points of Real Estate Tax Reform" and "Comparison between Current Reconstruction and Public Participation High-Density Reconstruction" during a press briefing held at the Government Sejong Complex on the afternoon of the 10th.

[Asia Economy Reporter Kwangho Lee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, said on the 10th, "The government is considering lowering the current monthly rent conversion rate (4%) to prevent a rapid shift to monthly rent and to alleviate the housing burden on the public."

Deputy Prime Minister Hong held a press briefing at the Government Complex Sejong on the same day and stated, "There are concerns that the rental housing shortage is worsening and the shift to monthly rent is accelerating due to the Three Lease Laws."