22.10.2008 - South Korea to spend $ 6 bln won on property aid
From Bloomberg: South Korea will spend as much as 8 trillion won ($6 billion) to buy land and unsold homes, aiming to shield the property industry from a collapse that may worsen an economic slowdown. State-owned Korea Housing Guarantee Co. will buy 2 trillion of houses, the Ministry of Strategy and Finance and Ministry of Land, Transport and Maritime Affairs said today in a statement. Korea Land Corp. will sell up to 3 trillion won of bonds to buy land from private companies. The rest of the funds will be used to provide debt guarantees and help low-income earners buy homes..... Full Article: Source