Seoul: Acting President Choi Sang-mok announced that the government will utilize all available resources to curb the increasing home prices. Choi shared this commitment during an economy-related ministers' meeting, emphasizing that home prices have recently risen in certain areas of Seoul.
According to Yonhap News Agency, Choi stated, "We will view the situation seriously and the related ministries and local governments will cooperate to sternly respond to price hikes in the housing market to ease concerns," highlighting the government's readiness to implement special measures if necessary.
Addressing global trade issues, Choi mentioned that it is premature to determine the impact of global trade uncertainties on Korean businesses, particularly following the U.S. administration's recent imposition of tariffs on all steel and aluminum imports, with more "reciprocal" tariffs anticipated. Despite these challenges, the government plans to develop strategies to mitigate the impact on local industries and will maintain dialogue with the U.S. and other major economies regarding trade barriers.
Choi further noted that the government intends to allocate 75.4 trillion won in policy financing to support new growth engines, signaling a proactive approach to fostering economic development amidst domestic and international challenges.