South Korea sees rising defaults among multi‑home owners as prime‑minister hopeful trims property holdings

A Bank of Korea financial stability report shows that owners of three or more homes have a delinquency rate of 1.35% in the first quarter, roughly double the 0.70% rate of single‑home owners. While their net assets are larger, their debt‑to‑income ratios are higher and many of their properties are concentrated in the Seoul metropolitan area (67.3%). The report calls for housing‑policy measures that reflect the differing risk profiles of owners by the number of homes they hold.

Meanwhile, prime‑minister‑designate Han Seong‑suk has sold a detached house in Yangpyeong and an office‑tel in Yeoksam, leaving her with only a single residence in Samcheong‑dong, Seoul. The sales were reportedly at prices below purchase cost, and part of the profit from a separate apartment sale was donated to an international relief organization. Han pledged to implement the government’s housing‑policy agenda and emphasized the importance of aligning personal property holdings with public responsibilities.