Seoul: The government is set to unveil a series of measures aimed at stabilizing the housing market amidst rising home prices in Seoul and parts of Gyeonggi Province, as announced by the ruling Democratic Party (DP) on Sunday. This decision follows a significant meeting between DP leader Jung Chung-rae, Prime Minister Kim Min-seok, and senior presidential aides to address pressing policy issues ahead of the National Assembly’s annual audit starting Monday.
According to Yonhap News Agency, Rep. Park Soo-hyun, the chief spokesperson for the DP, indicated that the government plans to release these measures at an appropriate time this week. The participants of the meeting emphasized the necessity for “fundamental and comprehensive” strategies to address the escalating home prices in key regions, which have been under close scrutiny due to their potential impact on housing stability.
The ruling party highlighted concerns over the housing market’s instability, which could affect housing security, increase household financial burdens, and diminish private consumption. With these issues in mind, the government and the DP have committed to vigilant monitoring of the situation and active engagement in addressing the challenges.
Prominent figures such as DP floor leader Kim Byung-ki, presidential chief of staff Kang Hoon-sik, and senior presidential secretary for political affairs Woo Sang-ho were in attendance at the crucial meeting held at the prime minister’s residence, marking the conclusion of the extended Chuseok holiday. The session also touched on reform agendas and policies related to public welfare that are slated for discussion during the regular parliamentary session.
The DP has been actively pursuing legislative reforms and has urged Supreme Court Chief Justice Cho Hee-dae to attend the Legislation and Judiciary Committee’s audit session scheduled for Monday.