S. Korea Unveils More Property Cooling Steps Amid Loan Concerns

South Korea rolled out new steps to rein in property prices, after earlier measures failed to cool demand sufficiently and spurred central bank concerns over mounting mortgage debt levels.

There will be a ramp-up of new home supplies in Seoul and its metropolitan area, the government said in a statement Sunday. The loan-to-value cap on mortgage loans will be cut to 40% from 50% for homes in four districts in Seoul, it added.