SEOUL, Nov. 7 (Korea Bizwire) – Government officials discussed Friday ways to supply public housing in the greater Seoul area through the use of idle state-owned land in order to meet the growing need for new homes in the capital region, according to the finance ministry. The meeting, attended by officials from relevant ministries and [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea will put priority on increasing housing supply by lowering construction regulations in the densely populated urban area and supporting redevelopment projects to stabilize the housing market, the finance minister said Friday. Finance Minister Hong Nam-ki said housing stability is one of the government’s most pressing tasks, vowing [...]
SEOUL, Aug. 25 (Korea Bizwire) – South Korea will control the supply of new apartments in a bid to curb demand for mortgage loans, the main culprit for soaring household debt in Asia’s fourth-largest economy, government officials announced Thursday. Household credit jumped 11.1 percent on-year to an all-time high of 1,257.3 trillion won (US$1,123.5 billion) [...]