[Economy 365]
Apartment prices in Seoul fell for the 10th week in a row amid severe sluggish housing market transactions due to interest rate hikes and concerns about an economic downturn.
As a result of a survey by the Korea Real Estate Agency, apartment prices in Seoul this week fell by 0.07% as they did last week, continuing the downward trend that began at the end of May.
In particular, apartment prices in Seocho-gu, which continued strong until last week, also stopped rising for the first time in 20 weeks and turned flat.
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The Yoon Seok-yeol government's first housing supply policy will be announced on the 9th.
This supply measure is expected to include a plan to expand supply in the metropolitan area, including Seoul, where house prices are unstable by activating private maintenance projects such as redevelopment and reconstruction.
To this end, measures such as increasing the floor area ratio to 500% or more centering around the station area to expand the supply volume and shortening the supply process by introducing 'integrated deliberation' in the maintenance business are included.
At the same time, it is said that the plan to improve the recovery of excess profits from reconstruction and relaxation of regulations on reconstruction safety diagnosis will be included in this measure.
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The Korea Dairy Beef Association, a dairy organization, decided to hold a protest next week against dairy companies such as Maeil Dairy and Binggrae, which did not appear in this year's crude oil price adjustment negotiation committee.
The association argued that prices should be raised according to the production cost indexation system, but these companies are delaying the price increase because they are not participating in the negotiations.
The dairy industry is known for its position that it will not participate in the negotiations unless the reform of the dairy system, which is based on the introduction of a 'differential price system for each oil use', is not predicated.