Financial Regulatory Forum

S.Korea takes measures to curb mortgage borrowing

By John Manley
September 4, 2009
mortgages | South Korea

Apartment houses, office buildings and residences are seen in central Seoul September 1, 2009. Housing prices across South Korea rose for a fifth consecutive month in August from July, although staying below year-earlier levels, data from the country's top lender showed on Tuesday. REUTERS/Lee Jae-Won (SOUTH KOREA CITYSCAPE BUSINESS)    SEOUL, Sept 4 (Reuters) – South Korea said on Friday it would impose limits on mortgage borrowing in the capital Seoul and two nearby areas, effective from Monday.
   Under the move, the amount of borrowing on homes will be limited by the borrower’s income rather than the value of the home. (Reporting by Yoo Choonsik; Editing by Jonathan Hopfner) ((choonsik.yoo@thomsonreuters.com; +82 2 3704 5580; Reuters Messaging: choonsik.yoo.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: KOREA ECONOMY/MORTGAGE 
  
Friday, 04 September 2009 08:15:17RTRS [nSEO324023] {C}ENDS

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