Hong Nam-ki "Measures to eradicate speculation, imposing strict responsibility on public officials... Announced early next week"

Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance said today (26th) that "we will impose much stricter standards and responsibilities on public officials, including public officials and public institutions, who need to take the initiative" in relation to measures to eradicate real estate speculation.

Deputy Prime Minister Hong held a meeting of ministers concerned with real estate market inspection at the government's Seoul government building today and said, “The measures to eradicate real estate speculation and prevent recurrence in relation to the Korea Land and Housing Corporation (LH) incident will be held in early March next week after the last consultations and party-government consultations. I am going to announce it without passing it over.”

He emphasized that "this time, we are preparing a fundamental measure with the determination to eradicate the typical illegal, expedient, and unfair speculation in the real estate market."

Deputy Prime Minister Hong said, "If you want to remain a public official, you will have to endure stricter standards, responsibilities, and sanctions. If you want to become a public official in the future, you will have to step into the public office with the heart to endure it."

Regarding the housing supply measures, he said, "Next week, we plan to announce the results of the selection of the 2nd candidate sites for public redevelopment according to the 5·6 measures and the 1st city center project candidate sites for the sites proposed by local governments related to the 2·4 measures." It.

Deputy Prime Minister Hong reiterated that, "apart from the LH incident, it is the government's very consistent position to shorten the time of supply of housing by even one day through follow-up measures for supply measures."

Regarding the recent real estate market trend, he mentioned the cases of apartments in Seocho-gu and Yongsan-gu, Seoul, saying, "In some regions, transactions that are considerably lower than the previous transaction are observed, depending on the case."

He said, "There was also an expectation that the LH crisis would have a negative impact on the real estate market, but we are fortunate that the uncertainty did not expand. If the current real estate policy is shaken and the market instability rises again, it will be a damage for all of us. "The damage of generations."

(Photo = Yonhap News)