[Breaking] Hong Nam-ki "Caution on Real Estate Market Instability... Party-Government Consultations to Proceed as Soon as Possible"

[Asia Economy Reporter Kim Hyunjung] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced that he will proceed with the ruling party-government consultations on real estate tax reform issues, including raising the comprehensive real estate tax imposition criteria, as soon as possible.

On the morning of the 21st, Deputy Prime Minister Hong presided over the 20th Real Estate Market Inspection Meeting of Related Ministers at the Government Seoul Office and said, "I believe it is not desirable for uncoordinated and unconfirmed matters to be reported as if they have been finalized, causing market instability." He added, "We firmly warn against the possibility of the real estate market becoming unstable again," and explained, "While maintaining the principle and goal of stabilizing the real estate market and housing security under the broad framework of expanding housing supply, eradicating speculative demand, and protecting actual demand, we will proceed with the process of reviewing the issues raised so far and holding consultations between the ruling party and government as quickly as possible in order to promptly remove market uncertainties."

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