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S. Korea's Q2 GDP growth hits decade high but risks loom reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Finance chief again warns of housing bubble Posted : 2021-07-28 11:15 Finance Minister Hong Nam-ki / Yonhap South Korea s top economic policymaker on Wednesday warned of a housing bubble amid a looming interest rate hike, and vowed to increase the housing supply and tighten lending rules to stabilize the market. Finance Minister Hong Nam-ki expressed worries over the continued housing rally in the Seoul metropolitan area driven by ample liquidity and expectations of a further price hike, which could threaten the financial stability amid the snowballing household debt. Several housing market indicators are near record highs or have already surpassed previous peaks, Hong said during a meeting on the real estate market. ....
The South Korean government has asked for the nation s understanding and cooperation on the government s efforts to cool down the overheated housing market. Finance Minister Hong Nam-ki once again vowed to go all out to tame the country s runaway house prices. His remarks came on Wednesday during the joint briefing with real estate related ministers saying the country should be united to resolve the issue. Hong said the government s efforts focus on supplying enough houses, preventing an influx of liquidity and tackling property speculation. ....
Article content SEOUL South Korea’s economy expanded at the fastest annual pace in a decade in the second quarter, thanks to a pick up in private consumption, though a resurgence of COVID-19 casts doubt over the outlook for growth for the rest of the year. Data from the Bank of Korea on Tuesday showed gross domestic product (GDP) grew 0.7% in the second quarter, after rising 1.7% three months earlier and matching 0.7% growth tipped in a Reuters survey. We apologize, but this video has failed to load. Try refreshing your browser, or S. Korea s Q2 GDP growth hits decade high but risks loom Back to video ....
South Korea’s second-quarter GDP growth hits decade high but risks loom FILE PHOTO: People wearing masks walk at Myeongdong shopping district amid social distancing measures to avoid the spread of the coronavirus disease (COVID-19), in Seoul, South Korea, May 28, 2020. REUTERS/Kim Hong-Ji July 27, 2021 By Cynthia Kim SEOUL (Reuters) – South Korea’s economy expanded at the fastest annual pace in a decade in the second quarter, thanks to a pick up in private consumption, though a resurgence of COVID-19 casts doubt over the outlook for growth for the rest of the year. Data from the Bank of Korea on Tuesday showed gross domestic product (GDP) grew 0.7% in the second quarter, after rising 1.7% three months earlier and matching 0.7% growth tipped in a Reuters survey. ....