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Economy

Moon's bid to tame Seoul property prices backfires

Approval dives on boiling anger over officials' home ownership double standards

Homeowners and buyers in Seoul are angry at South Korean President Moon Jae-in's attempts to fix the city's housing crisis.   © AFP/Jiji

SEOUL -- South Korean President Moon Jae-in's chief of staff Noh Young-min came under attack this month for having two houses after having asked staff at the presidential Blue House to sell down if they owned multiple homes.

A chastened Noh sold a residence in his former constituency in Cheongju, North Chungcheong Province, earlier this month, and then put his apartment in the glitzy Gangnam district of Seoul up for sale.

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