Kim Hyun-mi: "People in their 30s should wait for apartment sales rather than 'yeongkkeul' panic buying"

Minister of Land, Infrastructure and Transport Kim Hyun-mi is responding to questions from lawmakers at the full meeting of the National Assembly Land, Infrastructure and Transport Committee on the morning of the 31st. [Image source=Yonhap News]

[Asia Economy Reporter Lee Chun-hee] Kim Hyun-mi, Minister of Land, Infrastructure and Transport, advised people in their 30s that it is better to wait for the supply to come out rather than engage in 'panic buying.'

On the 31st, attending the National Assembly Land, Infrastructure and Transport Committee plenary session, Minister Kim said, "We need to consider whether buying a house by 'Yeongkkeul' (raising funds by gathering all one's resources) is beneficial in the long term, or if it is better to wait and purchase at a reasonable price considering the future supply in Seoul and new towns."

She added, "The term 'panic buying' may cause young people to feel rushed, and creating a more moderate atmosphere would be helpful for the youth."

In response, Kim Eun-hye of the United Future Party criticized that the policy failure is being shifted onto the youth, to which Minister Kim replied, "I don't quite understand your comment."

Meanwhile, regarding the so-called 'Seven Proposals' petition that criticized the Moon Jae-in administration's policies in the form of a memorial, Minister Kim responded, "I haven't read it, so I don't know."

The petition strongly criticized the current government's real estate and personnel policies, targeting Minister Kim by saying, "Some ministers have seen their house prices rise by 1.1 billion won, yet you are claiming that the current market price has only risen by 11%."

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