South Korea to announce fresh housing market measures on Aug 2: lawmaker

[SEOUL] A South Korean lawmaker on Tuesday said the government will announce on Aug 2 a fresh set of measures to rein in speculative investments in the housing market, especially in some parts of Seoul where prices have sped up sharply.

"A comprehensive set of measures will be announced tomorrow after the government-ruling party talks," Kim Tae-Nyeon, a lawmaker of the ruling Democratic Party of Korea, said at a policy meeting in Seoul, a statement from the party showed.

Mr Kim said a stronger set of measures to curb speculative investment is needed as some parts of the housing market in Seoul are heating up. The measures will also include increasing public housing supplies for those needing a home.

"A strong set of measures will be announced targeting those with multiple homes," Mr Kim said.

REUTERS