[Weekly Outlook] Metropolitan Area Housing Supply Plan and Q2 Household Trends Announcement

[Asia Economy Sejong=Reporter Dongwoo Lee] This week (15th-19th), attention is focused on whether announcements will be made regarding the expansion of housing supply in the metropolitan area and the easing of reconstruction regulations.

According to related ministries on the 14th, the government will hold a real estate-related ministers' meeting on the 16th to announce the '2.5 million housing units + α (alpha)' housing supply plan.

The announcement was initially scheduled for the 8th but was postponed by a week due to heavy rain. This supply plan is expected to focus on revitalizing private redevelopment and reconstruction projects to expand supply in Seoul and the metropolitan area.

There is also a possibility that the plan will include improvements to reconstruction regulations such as the Reconstruction Excess Profit Recovery System (재초환) and plans to ease safety inspection regulations for reconstruction.

On the 18th, Statistics Korea will release the second quarter Household Trends report. Household Trends is a statistical report that examines indicators such as household income, expenditure, and distribution.

In the first quarter, total household income increased by more than 10% compared to a year earlier, marking the largest increase ever recorded. The income growth rate of the lowest 20% income group was the highest among all groups, leading to an improvement in income distribution.

On the same day, the Ministry of Economy and Finance will publish the August issue of Fiscal Trends. Fiscal Trends provides data on national finances, including national tax revenue and expenditure, fiscal balance, and national debt.

The Bank of Korea will release the 'Second Quarter International Investment Position (Provisional)' results on the 19th. In the first quarter, external financial assets reached a record high of $2,189.3 billion. External debt ($654.1 billion) also hit a record high due to increased foreign investment in Korean government bonds, but soundness indicators such as the proportion of short-term external debt remained at a healthy level.

Attention will be on whether the increase in external financial assets and external debt continued in the second quarter as well.