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President Moon Jae-in held an anti-corruption policy meeting on the afternoon of the 29th and repeatedly emphasized that the suspicion of real estate speculation should be uncovered to the end.

Accordingly, to prevent speculation, the government increased the reported bounty to a maximum of 1 billion won in the future, and forced the seller to pay more taxes because the land was purchased less than a year ago.



Reporter Jang Hoon-kyung, the government’s anti-speculation measures, has organized.



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President Moon Jae-in ordered that even if the target of investigation or investigation expands, do not stop, do not argue about political affiliation, and dig up allegations of speculation to the end.



[President Moon Jae-in: The sale we are hitting is very painful.

I particularly urge the Korean



government

to have a strong determination to take this as the last opportunity to reverse the evaluation of real estate policy as well.] The

government's countermeasures included prevention and detection, punishment and recovery measures.



In order to block speculative gains, a transfer tax rate of 70% is applied when selling land held for less than one year from next year and 60% for land held for less than two years.



In order to prevent most of the land price from being covered by loans like LH employees, LTV, that is, a limit on the ratio of loans based on the value of the collateral, is newly established for non-home mortgage loans.



When buying land over 1,000 square meters or over 500 million won, the local government has to submit a financing plan.



The concentration crackdown continues.



The current Joint Special Investigation Headquarters will double the manpower, and the National Prosecutors' Office will also form a dedicated team to initiate investigations.



A real estate transaction analysis institute is also created to participate in the crackdown.



[Hong Nam-ki/Deputy Prime Minister of Economy: We will operate an intensive report period for 100 days right away.

We are expanding the amount of compensation reported from the current maximum of 10 million won to a maximum of 1 billion won.] The



four major real estate market disruptors promised severe punishment, saying that they will not only aggravate punishment but also exit the market.



When speculation was confirmed, it was decided to redeem 3 to 5 times the unfair profits and exclude spoiled foods aimed at compensation costs from compensation.



Even if there is no job relevance, not only speculators who have accessed undisclosed inside information, but also third parties who receive the information are punished.



Regarding the controversy over whether it is unconstitutional to retroactively confiscate the unfair profits of LH employees, Deputy Prime Minister Hong Nam-ki explained that he would make the most of the current anti-corruption laws.



In addition, he announced that he would catch speculation for nominee through relatives or acquaintances through planning investigations such as surveys on parcels and sources of funds.



(Video coverage: Jeong Seong-hwa·First, video editing: Jeong Seong-hun)