South Korean government changes course with housing stimulus

Amid fears that South Korea's slumping housing sector could undermine the broader economy, the government announced measures to boost the market, including tax breaks for those seeking their first home. The government is also moving to restrict the supply of homes to keep prices up, marking a break from the previous government's "stance of suppressing demand and expanding supplies that was adopted during a phase of price hikes," the Ministry of Land, Infrastructure and Transport said in a press release.

View Full Article in:

Yonhap News Agency (South Korea) · Yonhap News Agency (South Korea)

Published in Brief: