South Korea's Housing Market Is a ‘Ticking Bomb,’ President Says

South Korean President Lee Jae Myung warned that the country’s property market is a bubble on the point of bursting, as he backed the Bank of Korea’s decision to hold rates last week.

Amid concerns that cheaper borrowing may further fuel the rally in property prices, Lee said it was imperative to avoid triggering the kind of economic malaise that afflicted Japan for decades.