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Government will announce plans to curb speculation in real estate market Updated: 2017-08-02 05:19:11 KST

The South Korean government will announce a set of real estate control measures later today, in response to growing signs the housing market is becoming overheated, the second already under the new Moon administration.
The government has hinted it would take steps to counter speculative investors, who own multiple residential properties.
Earlier in June, the government imposed stricter loan regulation on several real estate hotspots around the country that had seen steep, recent price gains.
The government says it has detected signs of price distortions in the market caused by speculation, which is making it more difficult for young people to purchase a home.
The measures will be revealed following a meeting between officials from the ruling Democratic Party and the government.
Reporter :
KOGL : Korea Open Government License
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