{"id":119087,"date":"2026-08-14T07:19:59","date_gmt":"2026-08-14T07:19:59","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/119087\/"},"modified":"2026-08-14T07:19:59","modified_gmt":"2026-08-14T07:19:59","slug":"south-korea-unveils-package-to-boost-housing-supply-support-young-buyers-3","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/119087\/","title":{"rendered":"South Korea unveils package to boost housing supply, support young buyers"},"content":{"rendered":"

Published Fri, Aug 14, 2026 \u00b7 02:20 PM<\/p>\n

[SEOUL] South Korea said on Thursday (Aug 13) that it would raise financial support for construction projects and ease regulations for young homebuyers as part of efforts to stabilise a red-hot housing market.<\/p>\n

Earlier this month, the government of President Lee Jae-myung proposed higher taxes on wealthy homeowners. Lee\u2019s approval ratings have been falling on rising house prices and stock market volatility.<\/p>\n

\u201cThe real estate bubble has reached a level that can no longer be left unchecked,\u201d Lee said during a meeting with his top aides on Thursday. \u201cIf this situation continues, we could face what happened in a certain country \u2013 the so-called \u2018lost decades\u2019.\u201d<\/p>\n

He added: \u201cWe must concentrate all available means and capabilities on solving the real estate problem \u2013 a ticking time bomb that threatens people\u2019s lives and the country\u2019s future.\u201d<\/p>\n

Thursday\u2019s measures are aimed at \u201cstabilising the property market by stimulating housing supply and through a comprehensive financial package for young people and those with actual demand\u201d, the Financial Services Commission (FSC) said in a statement.<\/p>\n

The FSC noted that it would raise policy support for financing construction projects to 47.8 trillion won (US$33.72 billion) or more, from a planned 26.3 trillion won, to boost housing supply.<\/p>\n

The FSC also announced financial support measures, such as new policy loans, for young people and newlyweds who buy a house to live in, while maintaining or tightening restrictions on speculative demand.<\/p>\n

South Korea, one of the world\u2019s most indebted countries, has complex borrowing rules in place in a bid to curb household debt. The FSC said that it would manage debt growth at around 3 per cent this year, up from the previous target of 1.5 per cent.<\/p>\n

In a Gallup Korea poll released on Friday, Lee\u2019s approval rating declined to an all-time low of 44 per cent, down seven percentage points from the previous survey released in July.<\/p>\n

SEE ALSO<\/p>\n

\"South<\/a><\/p>\n

The decline in support was pronounced among young voters, with only 30 per cent of the respondents in their 20s backing Lee.<\/p>\n

Support for Lee\u2019s Democratic Party also fell three percentage points to 41 per cent, while support for the main opposition People Power Party increased to 25 per cent from 23 per cent during the same period.<\/p>\n

The latest survey also showed that 40 per cent of respondents want the government to intervene less in the housing market, while 27 per cent said that the authorities should do more. REUTERS, BLOOMBERG<\/p>\n","protected":false},"excerpt":{"rendered":"Published Fri, Aug 14, 2026 \u00b7 02:20 PM [SEOUL] South Korea said on Thursday (Aug 13) that it…\n","protected":false},"author":2,"featured_media":119088,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2448,3139,31,146,1164,33],"class_list":["post-119087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-south-korea","tag-construction","tag-housing","tag-korea","tag-lee-jae-myung","tag-real-estate","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=119087"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/119088"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=119087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=119087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=119087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}