Binance founder Zhao released from US custody, Bloomberg News reports
Brazil's top court rules X must pay pending fines to resume service
A federal judge in Texas will hear arguments over Boeing's plea deal in a 737 Max case
Canada booking seats on commercial flights to help citizens flee Lebanon
Netanyahu is dragging region into war and must be stopped, Jordan says
Hezbollah reckons with future amid Beirut strikes
Jobs data to test US stock market's soft-landing hopes
Sutter Health Park is new home to A's, putting sports world in abuzz over turf, tickets
Nationals GM Mike Rizzo says long-term view of CJ Abrams is unchanged despite demotion
Lindor returns to Mets' lineup after missing nearly 2 weeks with lower back pain
SEOUL (Reuters) - South Korea's finance minister on Thursday vowed to take policy steps to stabilise the real estate market, as house prices are rising in the area of the capital Seoul.
"Volatility is increasing in the real estate market recently, with apartment prices rising more sharply in Seoul and the wider capital area," Finance Minister Choi Sang-mok said during a policy meeting with the land minister.
"The government will make an all-out effort to stabilise the real estate market," Choi said.
Choi said the government would take policy measures to increase house supplies, speed up the restructuring of real estate project financing, and step up efforts to control the rise in household debt.
The government will consider "extraordinary" measures if the real estate market is deemed overheated due to speculative demand, Choi said.
Last week, the Bank of Korea said household debt growth and rising home prices were key factors the central bank was watching, as it opened the door for rate cuts after keeping the policy rate unchanged at 3.50%, the highest since late 2008, for the 12th straight meeting.
In June, South Korea's house prices rose 0.04% over the month, snapping a six-month run of declines. Prices rose 0.38% in Seoul, the fastest since November 2021, according to Korea Real Estate Board data.
(Reporting by Jihoon Lee; Editing by Ed Davies)
