Deputy Prime Minister for Economy: "Two-Home Ownership Disposal Deadline Extended to 3 Years, Retroactively Applied from Today"

Choo Kyung-ho, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance

[Asia Economy Sejong=Reporter Song Seung-seop] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho announced on the 12th, "For those who temporarily become two-homeowners among real demanders with one home, the disposal period for the previous house will be extended to three years regardless of the region to prevent excessive difficulties."

Deputy Prime Minister Choo attended the emergency economic ministers' meeting held at the Government Seoul Office on the 12th and stated, "As the sluggishness in the real estate market has prolonged, concerns have continued to spread that despite a clear intention to sell the previous house, it may not be disposed of within two years."

Deputy Prime Minister Choo explained, "To implement this supplementary measure, we plan to complete the revision of the related enforcement decree within February," adding, "To prevent the freezing of listings from the announcement date to the implementation date and to promptly provide benefits to temporary two-homeowners, we will apply this retroactively from today." He emphasized, "We will continue to closely monitor real estate prices and transaction trends and proactively resolve difficulties faced by genuine housing demanders and vulnerable groups."

Regarding the scale-up research and development (R&D) investment strategy, Deputy Prime Minister Choo said, "To secure national strategic technologies, we will expand scale-up R&D investment to about 3.5 trillion won annually by 2027," and added, "We will select fields with high public-private collaboration to promote large-scale joint R&D and actively induce private sector investment through matching support linked to private investment and financing."

He continued, "We will establish and disclose a core promising technology pool on the national technology transaction platform to support companies in securing patents, commercialization, and startups," and mentioned, "We will also promote customized support based on individual companies' R&D activities and achievements through a corporate innovation capability diagnosis program."

Furthermore, he promised, "We will build a foundation for the growth of innovative companies by creating a deep-tech scale-up valley where universities, government-funded research institutes, and companies can cooperate using existing special zone areas."