Tougher housing rules

[Anchor]

President Lee also revealed his vision for real estate policy.

He stated that the recently announced loan restrictions are just a preview and that numerous demand suppression measures remain.

He added that he will continue to push for policies that shift money from the real estate market into the financial market.

Here’s reporter Oh Dae-seong with more.

[Report]

The six hundred million won cap on housing loans in the Seoul metropolitan area is considered a strong real estate measure, but President Lee dismissed it as merely a start.

[President Lee Jae Myung: "There are still a tremendous number of demand suppression measures left—this is just a preview. If we speed up the supply, there will be no need for concern."]

While he didn’t go into detail about the suppression measures, he made it clear that his policy direction is focused on expanding supply.

He announced plans to accelerate the development of the already-planned third-phase new towns and to pursue land recycling and high-density construction.

[President Lee Jae Myung: "There are still many planned new towns left. The supply hasn’t actually begun. We need to follow through on existing plans—just at a faster pace."]

However, he noted that any new new towns in the metropolitan area or the lifting of development restrictions must be carefully considered.

[President Lee Jae Myung: "If we keep building new towns, wouldn’t that lead to further concentration in the metro area? That’s a fair point, isn’t it?"]

President Lee also emphasized the need to redirect the flow of capital away from real estate.

[President Lee Jae Myung: "I’m thinking of changing the overall flow. Wouldn’t it be much better to move capital into the financial market instead of real estate?"]

He reiterated his commitment to regional development, promising to expand support for areas farther from the capital to promote balanced national growth.

This is Oh Dae-seong, KBS News.