President Moon: "Firm Determination to Curb Real Estate Speculation... Will Continue to Implement Endless Measures"

[Image source=Yonhap News]

[Asia Economy Reporter Yang Nak-gyu] President Moon Jae-in stated, "The real estate measures are not solely aimed at preventing price increases, but also at restoring price hikes to their original levels."

On the 14th, at the Blue House's State Guest House, during the New Year's press conference under the theme "Definite Change, Republic of Korea 2020," President Moon said, "I do not believe that all measures have been fully implemented with the previous real estate policies," adding, "Previously, the focus was on high-priced multi-homeowners with homes over 900 million won, so we are closely monitoring the balloon effect where prices of homes under 900 million won rise, and the phenomenon where sales demand shifts to jeonse demand causing jeonse prices to increase. We will devise supplementary measures accordingly."

President Moon also said, "During our government's term, we will clearly demonstrate our determination to firmly control the real estate market, and I hope the media will cooperate on this matter," adding, "We will carefully review measures such as strengthening property taxes and easing transaction taxes while monitoring real estate price trends."

This is President Moon's third New Year's press conference. Unlike previous years, since the New Year's address was delivered on the 7th, the conference proceeded without a separate New Year's speech, featuring a brief opening remark of about three minutes followed by a Q&A session. The Q&A with reporters was conducted without pre-selecting questioners and was divided into three topics: politics and society, livelihood and economy, and diplomacy and security.

This content was produced with the assistance of AI translation services.