Finance Minister Koo Yun-cheol said Tuesday the government will unveil property tax revisions later this month to balance recurrent and transaction taxes.
Koo Yun-cheol made the remark in an interview with MBC Radio. He said the government aims to create a property market centered on actual residents under the principle that homes are for living, not buying.
The minister noted plans to review aspects such as reducing long-term ownership benefits for those who have not lived in their properties. A final decision will follow public consultations.
Koo added that the government is reviewing the balance between recurrent and transaction taxes but did not provide further details.
