The Ministry of Economy and Finance plans to unveil stronger measures this afternoon.... to try and cool down Korea's overheated housing market.
It's expected that the government will increase the burden on real estate owners.... by raising tax rates... and reduce the benefits enjoyed by rental business operators... by applying regulations on new mortgages.
The upcoming measures are aimed at curbing the skyrocketing housing market,.... particularly in the capital city of Seoul... where house prices rose to their highest level in six years.
Speculative housing practices are believed to be the main culprit for the country's soaring household debt... estimated at around one-point-three-trillion U.S. dollars.