As Real Estate Public Opinion Boils, Hong Nam-ki Visits Site: "Lease 3 Laws Criticized"

Visit to Real Estate Agent Offices near Mokdong, Seoul and Gimpo, Gyeonggi-do

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Amid rising public opinion related to real estate recently, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, visited real estate agent offices near Seoul and Gimpo.

On the 4th, Hong posted on his social networking service (SNS), "This morning, I had a brainstorming session with real estate market experts about the real estate market and policies, and in the afternoon, I visited several real estate brokerage sites to hear a wide range of voices."

He wrote, "In particular, regarding the three lease laws, while many have benefited from the system, there were quite a few criticisms about the difficulties faced by those whose contracts could not be renewed due to landlords moving in themselves, and the burdens on those who will have to enter new lease contracts after the renewal contracts end."

He added, "Listening to the vivid voices from the front lines once again made me realize how important continuous communication with the real estate market and market participants is. I will continue to make efforts to listen to more diverse opinions in the future."

Furthermore, he stated that the supply measures scheduled for August will be carried out without delay, and measures such as expanding pre-subscription for private housing will be taken.

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