South Korea's finance minister said the government is aiming to meet the housing demand of single or two-person households as well as to increase housing supply in urban areas in the short term.
The minister Hong Nam-ki made the remarks Wednesday during a meeting on real estate policy.
He said that the goals are to be realized through drastically easing regulations especially on the required dimensions and floor heating for flats, studios or other non-apartment homes.
The minister also added that the government will come up with measures to curb soaring costs of 'jeonse' and monthly rent by end of this yearmainly through discussions with market experts and institutions.
Jeonse refers to a rental agreement that uses a huge lump-sum deposit instead of monthly rent.