S. Korean government announces new housing supply measures

The South Korean government announced last August it would supply 300-thousand homes to curb soaring housing prices. And on Friday, it revealed the specific public housing sites where 35-thousand of these homes will be built. For more, our Ko Roon-hee is on the line for us.Roon-hee, tell us the latest. Ji yoon. The Ministry of Land, Infrastructure and Transport announced this morning that it will supply 35-thousand homes in 17 areas in Seoul, Incheon, and Gyeonggi-do Province. The ministry aims to provide more than 10-thousand affordable homes just in Seoul… in Songpa-gu District, Gaepo-dong in Gangnam-gu district, and at 9 other sites…which haven't been made public yet. More than 17-thousand homes will be built in Gyeonggi-do Province and 78-hundred in Incheon. The districts will be confirmed after public inspection and the homes will go on sale starting 2021. Details about the remaining 265-thousand proposed homes will be announced by early next year. The ministry also announced the areas where these additional homes will be built. 200-thousand homes will be built in four to five big residential sites located between Seoul and the new towns of Ilsan and Bundang. This is part of the government's efforts to curb soaring home prices in the capital region over recent months and reduce speculative practices. Jiyoon.