Politics · South Korea · 1 hr ago
South Korea finance chief rejects false claims of tighter mortgage limits
South Korea’s Finance Commission Chairman Lee Eok-won rejected claims of new mortgage limits in a post on X on October 20.
The posts said loans would be banned for homes worth more than 1.5 billion won and capped at lower amounts for cheaper homes.
Lee said the claims were not true, as rumours spread online that the government planned to tighten housing loans.
Current rules allow mortgage loans of up to 600 million won for homes worth 1.5 billion won or less in the capital region and designated regulated areas.
The false posts caused concern in a market where housing loans are closely watched.
Lee said authorities would consider referring the matter for investigation and would continue to act firmly against false information that disrupts market order.
The next step is for authorities to decide what action to take over the posts.
Finance Commission Chairman Lee Eok-won said claims that South Korea would further tighten mortgage limits were false.
He said on October 20 that the government would respond firmly to the spread of false information and could refer the matter for investigation.
Online posts claimed that loans would be banned for homes worth more than 1.5 billion won and capped at lower amounts for other homes.
The article says current rules allow mortgages of up to 600 million won for homes priced at 1.5 billion won or less in the capital region and regulated areas.
- Who
- Finance Commission Chairman Lee Eok-won.
- What
- He rejected claims that the government would further reduce mortgage limits and said authorities could refer the matter for investigation.
- When
- October 20, 2026.
- Where
- Lee made the statement on X; the false claims circulated online.
- Why
- The posts were described as false information that could disrupt market order.
This story does not have two clearly opposing sides.
The government issued a joint statement about false online posts concerning real estate measures and warned of a firm response.
Lee said on X that the claims of tighter mortgage limits were false and announced a firm response, including a possible investigation referral.
- Claimed ban threshold
- Homes worth more than 1.5 billion won
- Claimed cap for homes above 1 billion won
- 200 million won
- Claimed cap for homes at or below 1 billion won
- 400 million won
- Current maximum mortgage
- 600 million won for qualifying homes in the capital region and regulated areas
- Date of Lee's statement
- October 20, 2026
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