Feb 26 • 06:12 UTC 🇰🇷 Korea Hankyoreh (KR)

President Yoon: 'Normalization of Capital Markets is Reality... Possible to dismantle the Real Estate Republic'

President Yoon Suk-yeol stated that the normalization of South Korea's capital markets is underway and expressed optimism about dismantling the existing real estate dynamics that have hindered the economy.

On October 26, President Yoon Suk-yeol announced that the capital markets in South Korea are normalizing, stating the importance of achieving a 'Korea Premium' in global recognition rather than continuing with a 'Korea Discount'. He highlighted recent legislative changes, including the passage of a bill mandating the cancellation of treasury shares, which he believes will support this normalization process and bolster investor confidence in the country's financial markets. Yoon underscored the significance of improving transparency and rationality within the economy to drive further normalization in the capital markets.

In discussing the real estate crisis, Yoon expressed confidence that dismantling the long-standing issues in South Korea’s real estate sector—a challenge many thought insurmountable—could indeed become a reality. He noted observable decreases in housing prices in Seoul and a slowing rate of increase in rental prices, suggesting that a significant shift in the market is underway. Yoon's comments indicate a belief that these changes represent an unstoppable trend that will lead to stabilization and reform in the housing market, which has been a longstanding barrier to economic growth in the country.

Furthermore, during the same meeting, Yoon addressed the issue of fraudulent claims on government subsidies, criticizing those who exploit taxpayer money. He advocated for strict consequences, including full recovery of misappropriated funds and substantial economic penalties, as part of a broader initiative to hold violators accountable and ensure the integrity of governmental financial programs. This stance aligns with his overall agenda of promoting a 'common economy' that aims for realistic improvements in the citizens' lives while reforming the financial landscape.

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