[Breaking News] Deputy Minister of Economy and Finance: "Significant Housing Listings Expected... Supervisory Body Under Review"

[Asia Economy Reporter Kim Ga-yeon] On the 13th, Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, held a briefing at the Government Seoul Office on the '13th Emergency Economic Central Countermeasures Headquarters Meeting' and stated, "Since the short-term rental housing system is no longer permitted, when the rental registration is automatically canceled and the rental period ends, the comprehensive real estate holding tax will be imposed from now on," adding, "It is expected that a significant amount of rental housing automatically canceled each year will be supplied as listings in the housing market."

Vice Minister Kim also said, "In response to market disruption activities, opinions such as the establishment of a real estate supervisory organization have been raised," and "reviews among related ministries are currently underway."