South Korean President Lee Jae Myung recently pledged to rein in real estate speculation, which was threatening his nation’s future, vowing to stabilise the housing market “by any means necessary.”
“For the sake of a reasonable and prosperous nation, (I) will put an end to real estate speculation that could ruin the country by any means necessary,” Lee wrote in a post on social media, describing such speculation as “utterly absurd.”
Lee’s post also shared a link to a news report criticising conservative and business newspapers for highlighting concerns raised by property investors who would face hefty capital gains taxes when the current temporary tax exemption expires in May.
