January 26, 2018 / 1:48 AM / a year ago

S.Korea fin min to consider tougher taxes on property ownership on bubble worries

SEOUL, Jan 26 (Reuters) - South Korea’s finance minister on Friday said the government may consider tougher taxes on property ownership amid a spike in demand for homes in wealthier parts of Seoul.

Questioned by reporters at a seminar in Seoul, Kim Dong-yeon said he sees any revision on property ownership taxes will be carried out after public opinions are collected.

“A considerable part of the (rise) in Gangnam home prices seems to be based on speculative demand,” Kim said, referring to the wealthy Seoul district. (Reporting by Shin-hyung Lee, Cynthia Kim; Editing by Sam Holmes)

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