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Lee seeks broad consensus on housing to avoid Japan-style property bust
Lee seeks broad consensus on housing to avoid Japan-style property bust SEOUL, July 23 (AJP) -Normalizing property prices distorted by "abnormal" demand and supply is the purpose of housing policy, South Korean President Lee Jae Myung said Thursday, calling for a broad social consensus on how to balance housing supply, lending restrictions and taxation to prevent the country from following Japan's decades-long property bust. "Real estate is one of the biggest challenges facing the Republic of Korea," Lee said in opening remarks July 23, 2026