Daily Market Updates: South Korea President cites Japan housing crash to push property agenda

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South Korea President cites Japan housing crash to push property agenda

CNBC World reports President Lee linked South Korea's heavy real estate investment to the risk of a Japan-style market downturn.

Reported · Written up by our desk · Asia

South Korean President Lee is pushing a domestic property agenda by drawing comparisons to Japan's housing crash, CNBC World reports. Lee said South Korea has an excessive focus on real estate investment and warned that it creates vulnerability in housing markets.

In his remarks, Lee pointed to Japan's housing market as an example of what can happen when real estate bubbles unwind, saying Japan's housing market burst like a balloon.

The CNBC Real Estate writeup reiterates Lee's framing that South Korea should address its real estate concentration to avoid a similar outcome.

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Sources

CNBC WorldSouth Korea's president invokes dramatic Japan realty crash to push domestic property agenda

CNBC Real EstateSouth Korea's president invokes dramatic Japan realty crash to push domestic property agenda

Global Markets

South Korea President cites Japan housing crash to push property agenda

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