Koo Yun-cheol, Deputy Prime Minister and Minister of the Ministry of Economy and Finance, said of the recently announced "Oct. 15 real estate measures," calling them "the government's efforts to secure stability in dwellings," and added, "We are sorry for the difficulties some people are experiencing."
On Oct. 30 at the National Assembly's Strategy and Finance Committee's comprehensive audit of state affairs, Deputy Prime Minister Koo responded after Choi Eun-seok of the People Power Party criticized, "Amateurs who don't understand the economy have implemented an incompetent policy that kicked away the housing ladder."
Deputy Prime Minister Koo said, "Because the recently soaring real estate market ultimately does not help stabilize housing for ordinary people, we will closely review stabilization measures for the (dwellings) market and at the same time measures to increase the supply of dwellings, and implement them as soon as possible."
Koo went on to stress, "The government will expand supply as quickly as possible to reduce people's difficulties."
Regarding the direction of adjusting the property holding tax, Koo explained, "We plan to proceed by synthesizing expert opinions, commissioned research, consultations with relevant ministries, and public consensus," adding, "Because we have to look at the entire tax system comprehensively, it is difficult to comment on a single item (of the holding tax)."