Stronger Anti-Land Speculation Measures Mulled

Vice Strategy and Finance Minister Hur Kyung-wook yesterday hinted at imposing stronger regulations to prevent real estate speculation.

"Fears are growing that the housing markets will start overheating in certain areas,” he said. “If the government decides to impose more regulations on the housing market, it should target certain areas instead of the whole nation."

"Housing prices have rapidly grown in certain areas, including southern Seoul. The most important measure in stabilizing housing prices is to strike a balance between supply and demand. The second most important measure is reaching financial solutions. The government has kept a closer eye on the housing market.”

On the possibility of a tight monetary policy, Hur said, “Though the credit crunch has significantly eased, economic stimulus measures are still needed. Introducing a tight monetary policy too early is riskier than adopting it belatedly. That means it`s premature to introduce a tight money policy.”

cha@donga.com