South Korea Halts Government Asset Sales Amid Pricing Concerns

In a decisive move, South Korean President Lee Jae Myung has issued an emergency order to suspend all sales of government assets. This comes amidst growing concerns during parliamentary audits and media reports that these assets were being undervalued.

Lee's directive stipulates that the government should not proceed with asset sales unless absolutely necessary. Even in such cases, the Prime Minister’s prior approval is required. This decision underlines the government's commitment to ensuring transparency and fair valuation in asset transactions.

The finance ministry is set to address these issues in a scheduled media briefing on Tuesday, as reported by the Yonhap News Agency. This development underscores the administration's responsive approach to handling the nation's asset sales.