In addition, the Democratic Party and the government announced measures to eradicate real estate speculation with the aim of expanding the real estate registration system for public officials.
Prime Minister Jeong Sye-gyun said at a high-ranking party administration meeting held at the National Assembly today (19th) that he would consider expanding the registration system so that all public officials related to real estate, regardless of rank, register their properties.
He also said that if it is a new acquisition, it will be compulsory to report in advance.
Prime Minister Jung promised that when announcing the new housing site, he would thoroughly manage the land ownership relationship and transaction status so that speculative controversy would no longer arise.
Chairman Kim Tae-nyeon, acting representative of the party, emphasized that if there is an unfair advantage, it will take a three- to five-fold redemption measure.
He also announced that he will review plans to expand the registration of real estate properties to all public officials including public institutions and local governments and local public corporations.
(Photo = Yonhap News)