08.10.2012 - South Korea: More steps needed to prevent property price fall: FSC chief
South Korea's top financial regulator said Monday he will beef up measures to prevent a further slump in the metropolitan property market as part of efforts to expedite the economic recovery. "Chances for a protracted economic slowdown are high, thus a strong possibility that household debts will worsen on a sagging property market," said Gov. Kim Seok-dong, the head of the Financial Services Commission (FSC), at the annual parliamentary inspection. He pointed out that a lot of mortgage holders are having trouble managing their debts they took out when the housing market hit a boom, until they began to take a dive as the local property market faltered mainly due to an oversupply...............................................Full Article: Source
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