Presidential Office "Announcement of additional housing supply by the end of the year...Full-scale supply drive"

The presidential office said it will push for large-scale housing supply to areas favored by the people through the lifting of the green belt and rebuilding old planned cities.

Sung Tae-yoon, the chief policy officer, held a briefing at the presidential office in Yongsan today and said, "We will ease the burden of housing costs by stabilizing the housing market from the perspective of end-users."

In a related development, a senior presidential office official told reporters that the government will announce additional housing supply measures within this year at the earliest, explaining that the supply will be expanded in terms of allowing young people to have opportunities in areas where people want to live.

Regarding the direction of the tax reform, he said he would cut the world's highest inheritance tax rate, and said he thought it should be changed to a form of estate acquisition tax.

The estate acquisition tax is a system that is taxed based on the property inherited by the heir, not the entire inherited property, and the government is working on a reform plan to convert the estate acquisition tax.

Today's briefing was held to explain the achievements of state affairs and future tasks ahead of the halfway point of President Yoon Suk Yeol's term in office on the 10th.

"The government has been running tirelessly to solve the difficulties of people's livelihoods and open a new future for the Republic of Korea," Sung Tae-yoon said. "It was the first half of the administration that tried to build a foundation for a better future and develop the structural potential of our society."