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Blue House will never back down from trying to stabilize Korea's overheated housing market

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청와대, 부동산 시장 문제 해결 위해 물러서지 않을 것 The government announced several new measures on Wednesday to cool down the housing market, including much tougher rules on speculation.The measures were met with criticism from the opposition parties, left right and center.And today, a top Blue House official moved to address some of those critiques.Hwang Hojun reports. During a meeting with the press Thursday morning, Kim Su-hyun, the Senior Presidential Secretary for Social Affairs clarified the government's position on the new measures to stabilize the nation's housing market. He addressed some of the criticisms from the opposition parties who say the measures introduced on Wednesday are practically identical to those that "failed" during the former Roh Moo-hyun administration. Kim said he takes responsibility as the then-Presidential secretary for social affairs under the late President Roh, acknowledging that the measures in the past did indeed fail.He said the reason for that was because they focused only on the supply-and-demand side of the housing market and lacked a solution to excess liquidity, which eventually triggered the 2008 global financial crisis. Kim said it's a complicated issue, noting that the former Park Geun-hye administration supplied a whopping 700-thousand-plus new homes in a single year but still failed to lower housing prices.Which is why he said the government will only increase the supply of homes for the right people... once the fire is out. Kim also took a jab at the two former conservative administrations, arguing they are also liable for the recent spike in home prices in Korea.He stressed their policies were focused on cutting regulations in the housing market,... which sent the wrong message to the public,... urging them to buy a house one way or another,... even if it means taking on debt. Kim stressed that it's only been three months since the launch of the new government, reiterating that it will not back down under any circumstances in its efforts to stabilize and transform the nation's overheated housing market over the next five years.Hwang Hojun, Arirang News. Visit ‘Arirang News’ Official PagesFacebook(NEWS): http://www.facebook.com/newsarirang Homepage: http://www.arirang.com Facebook: http://www.facebook.com/arirangtv Twitter: http://twitter.com/arirangworld Instagram: http://instagram.com/arirangworld

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