[Yoo Choon-sik] Rising housing prices in Seoul and trust in policy
ViewpointsSept 2, 2024
An efficient economic policy is not necessarily one that simply achieves its intended goal regardless of side effects, but rather one that economic players trust, believing it was based on a correct assessment of the situation and expected effects from the policy. Measured against this criterion, South Korea’s recent policies and top officials' comments on rising house prices in the capital area fall short of being efficient -- not because they will fail to curb housing prices, but be