South Korea to add 230,000 homes to support young buyers as prices rise for 13th straight month

South Korea will nearly double state-backed financing for housing construction to 47.8 trillion won (US$33.7 billion) and ease mortgage rules for young buyers, the Financial Services Commission said Aug. 13.

SEOUL, Aug 13 : South Korea said on Thursday it would raise financial support for construction projects and ease regulations for young homebuyers as part of efforts to stabilise a red-hot housing market. Earlier this month, the government of President Lee Jae Myung proposed higher taxes on wealthy homeowners. Lee's app