Minister of Land, Infrastructure and Transport Won Hee-ryong announced that he would soon come up with measures to resolve the transaction cliff and unsold units due to the slump in the real estate market.
Minister Won appeared on KTV's state affairs talk, 'The People Ask, the Minister Answers', which aired on the 1st, and answered the question of an audience member who asked, 'Will you loosen the regulations when it is difficult to move due to falling house prices and transaction cliffs?'
Minister Won said, "There are times when real estate prices rise and sometimes fall, but the transaction itself is cut off, so you can't move, and even if you win the subscription, the loan is cut off, so there is a problem of missing opportunities for 10 years." The state should support the part where this natural progress suddenly stops and the front and back are cut off.”
Regarding the possibility of additional deregulation, he said, "The government is fully prepared for the part to resolve the disconnection of transactions and unsold sales."
He revealed that he is also considering how much more regulatory areas will be lifted.
Previously, the government announced its economic policy direction for 2023 and announced that it would further lift regulatory areas remaining in Seoul and parts of Gyeonggi Province during January.
Currently, only four Gyeonggi provinces remain as regulated areas: Seoul, Gwacheon, Seongnam, Hanam, and Gwangmyeong.
Regarding the late-night taxi shortage, Minister Won said, "I would like to come up with a bill to enforce 'destination not indicated' in order to eliminate the problem of avoiding short-distance customers."
Meanwhile, Minister Won visited the mortuary of the victims of the soundproof tunnel fire accident on the 2nd Gyeongin Expressway in Gwacheon, Gyeonggi Province, and said, "The state will do what it can to prevent the accident from repeating itself."
(Photo = Yonhap News)