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South Korea Plans 'Shock' Housing Supply Boost to Tame Prices


South Korea Plans ‘Shock’ Housing Supply Boost to Tame Prices
Bloomberg
2/4/2021
Sam Kim
(Bloomberg) South Korea says it will boost available housing nationwide with a positive supply “shock” as President Moon Jae-in struggles to tame soaring home prices that are weighing on his approval ratings.
The government will ramp up supply by another 836,000 homes, including 323,000 in Seoul, by 2025 and speed up construction, according to a statement released Thursday by the Ministry of Land, Infrastructure and Transport.
The announcement builds upon previous plans to provide 1.27 million homes in Seoul and its adjacent cities. Moon last month pledged to introduce “extraordinary” measures to increase housing “beyond market expectations.” ....

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