Yoon Orders Choo Kyung-ho and Won Hee-ryong to Devise Measures for Smooth Real Estate Transition, Jeonse Fraud, and Reverse Jeonse Issues

The Governor of the Bank of Korea, the Chairman of the Financial Services Commission, and the Governor of the Financial Supervisory Service Also Attend

On the 15th, President Yoon Suk-yeol instructed to continuously devise measures to establish a soft-landing system for the real estate market and to alleviate the burdens of housing vulnerable groups suffering from jeonse fraud and reverse jeonse.

President Yoon gave these instructions after receiving a report on the overall situation of the real estate market and soft-landing measures from senior officials of related ministries, including Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, in the afternoon, the presidential office spokesperson Lee Do-woon conveyed in a written briefing.

In addition to Deputy Prime Minister Choo, the report meeting was attended by Lee Chang-yong, Governor of the Bank of Korea, Won Hee-ryong, Minister of Land, Infrastructure and Transport, Kim Ju-hyun, Chairman of the Financial Services Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service.

President Yoon has been instructing the preparation of soft-landing measures, such as boldly easing demand regulations according to market principles to prevent a sharp drop in real estate prices during the interest rate hike period, through work reports and meetings. In particular, as jeonse fraud became rampant, he also ordered strict punishment for jeonse fraud and support for victims.

[Image source=Yonhap News]

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