PHOTO: BLOOMBERG[SEOUL] South Korea will accelerate a boost to housing supply in the Greater Seoul area, broadening its response to a yearlong rally in apartment prices after a raft of earlier measures to curb speculative demand proved insufficient. “We will not stop at today’s announcement, we will continue to identify additional housing supply in urban areas and make further announcements as projects become ready,” Koo said at an inter-agency meeting on accelerating housing supply. Projects will focus on underused urban land and include public-led redevelopment and newly built rental housing, the government said. The persistent strength in housing prices has added to concerns over household debt and financial stability, limiting the central bank’s room to ease monetary policy even as growth shows signs of cooling. Koo said that the government will closely monitor the progress of designated sites to ensure timely delivery, adding that further urban supply locations and regulatory measures are under review and will be announced soon.