Home > Business > Finance

Gov't launches task force to set up oversight body for real estate crimes

Published: 03 Nov. 2025, 19:44

Real estate prices are displayed at a realtor's office in Seoul on Oct. 26, following the government's mortgage-related loan restrictions and the designation of regulated speculative zones across Seoul and parts of Gyeonggi. [YONHAP]

The government on Monday launched a task force under the prime minister's office dedicated to creating an oversight body to crack down on illegal practices in the real estate market.

The move comes after the government last month unveiled housing market stabilization measures, designating all 21 remaining districts in Seoul as speculative zones and tightening lending rules in an effort to curb housing prices.

The task force consists of officials from the land ministry, interior ministry, the Financial Services Commission and the National Police Agency, among others.

Until the oversight body is formally launched early next year, the team will coordinate interagency responses to real estate crimes, including conducting joint investigations with the relevant agencies.

The Oct. 15 real estate measures marked the third set of housing market stabilization policies announced since President Lee Jae Myung took office in June.

Apartment prices in Seoul have been on a steep increase in recent months, especially in neighborhoods with high demand, fueling speculation and accelerating upward price trends.

Yonhap