President Lee orders government to halt all asset sales

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Published: 03 Nov. 2025, 18:01 Updated: 03 Nov. 2025, 18:19

Culture Minister Chae Hwi-young answers lawmakers’ questions during a parliamentary audit of the Ministry of Culture, Sports and Tourism at the National Assembly in Yeouido, western Seoul, on Oct. 29. [NEWS1]

Government spokesperson and Culture Minister Chae Hwi-young announced on Monday that the government will halt all asset sales following a directive from President Lee Jae Myung.

“President Lee Jae Myung ordered the complete suspension of government asset sales,” Chae said in a statement.

He added that all ongoing and planned asset sales would undergo a comprehensive review before any decisions on whether to proceed are made.

The government would refrain from selling assets except for those deemed unnecessary, and any unavoidable sales would require prior approval from the prime minister, according to the statement.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY BAE JAE-SUNG [[email protected]]