Building Restrictions to be Eased

The government and the ruling National Congress for New Politics(NCNP) decided to loosen restrictions on building developments to boost the construction industry.
The new regulations will be implemented sometime next year and will allow building higher structures near military headquarters.
The Seoul Metropolitan Government will also allow apartment buildings to exceed six stories in the Kangnam area.
Chamsil, Banpo, Kaepo and Hwagok areas will still have height restrictions on new buildings.
Lee Kyu Sung, minister of Finance and Economics on December 9 promised to deregulate laws to stimulate the economic recovery.
A source from the NCNP side also claimed, 'We can not just pour money into the economy, it is also very important to induce massive capital from the private sector.'
The government will try entice as many factories and warehouses as possible to the Seoul metropolitan area.