Kim Sang-jo: "Real Estate Will Stabilize... Additional Measures If Needed Are the Government's Responsibility"

"Some Outliers Exist, but Selective Measures Planned"
"Real Estate Transaction Analysis Agency as Control Tower? Not So Sure"

Sangjo Kim, Chief of Policy Office at the Blue House

Kim Sang-jo, Chief of the Blue House Policy Office, said on the 8th regarding real estate market trends, "Clearly, ideal phenomena are appearing in some areas," but added, "I believe the real estate market will stabilize when efforts to stabilize those are made together."

Kim appeared on MBC Radio's 'Kim Jong-bae's Focus' that day and said, "(I think the real estate market) will stabilize, but if necessary, it is naturally the government's responsibility to implement additional measures."

Kim stated, "According to official government statistics from the Korea Real Estate Board, the overall house price increase rate in Seoul has been close to zero for about four weeks," adding, "On average, it is stabilizing in a trend."

He continued, "However, there are clearly some areas and certain types of housing where prices are fluctuating," and said, "The government is preparing selective measures to manage those parts." He added, "Efforts like the Real Estate Transaction Analysis Institute are part of that, and they are combining detailed loan regulations to block gap investments and corporate investments."

Furthermore, Kim expressed disagreement with the view that the Real Estate Transaction Analysis Institute should serve as the control tower for real estate policy.

He said, "Real estate accounts for 76% of the total assets of the Korean people and is the most important asset, and it is also the most dangerous factor that threatens stability not only for individuals but for the entire national economy," but added, "However, I do not necessarily agree that creating a separate control tower to manage all real estate transactions and oversee policy would be effective."

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