South Korea takes strong action against real estate speculation.

VTV.vn - South Korean President Lee Jae Myung on February 3rd once again issued a stern warning against real estate speculation.

South Korea takes strong action against real estate speculation.

On February 3, South Korean President Lee Jae-myung once again issued a stern warning against real estate speculation. He reiterated his determination to stabilize housing prices by pledging to end tax exemptions on investment income for those who own multiple properties.

President Lee directly responded to skeptical comments suggesting the government was prioritizing the stock market while tightening controls on the housing market.

Mr. Lee argued that it's impossible to judge housing prices and stock prices using the same frame of reference. Some might think so due to a lack of understanding, but for those in leadership positions, making statements that mislead the public is inappropriate.

According to President Lee, rising stock prices directly support business operations and do not harm the community. Conversely, soaring housing prices will freeze investment capital in real estate, preventing resources from flowing into more practical productive sectors, thereby distorting the socio -economic structure. When housing prices skyrocket, those without homes will suffer, eroding the equitable distribution of resources in society.

These statements were made in the context of the KOSPI stock index experiencing a sharp decline of over 5% on February 2nd, before recovering and surpassing the 5,000-point mark in the morning session of February 3rd. Besides tightening real estate regulations, President Lee pledged to expand support for new businesses as part of an effort to shift the economic model towards entrepreneurship.

He argued that in the age of artificial intelligence (AI), societies that view challenges and failures as the foundation of success will overcome crises and seize greater opportunities for prosperity. To adapt to the changes in the AI-driven labor market, the South Korean government will relax regulations on new business establishment and increase financial support for businesses with groundbreaking innovative ideas.

Source: https://vtv.vn/han-quoc-quyet-liet-chong-dau-co-bat-dong-san-100260203212620233.htm