South Korea's President Vows to Stabilize Home Prices Ahead of Tax Deadline

MT Newswires Live

Feb 04

President Lee Jae Myung reaffirmed his resolve to stabilize home prices, saying more consideration should be given to people hurt by increasing housing costs than to multi-homeowners, according to a post shared on his X account on Wednesday.

Lee's reaffirmation comes ahead of the scheduled end of a temporary capital gains tax exemption in May. He said that the policy, introduced in 2022, was never guaranteed to be extended and criticized speculative real estate investment, Yonhap News reported Wednesday.

Lee's comments follow a series of online warnings since late January, aimed at cooling the housing market, the report said.

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