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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, South Korea — November 3, 2025 — President Lee Jae-myung on Monday ordered an immediate suspension of all government asset sales and instructed ministries to reassess ongoing or planned asset disposals before deciding whether to proceed, government spokesperson and Minister of Culture, Sports and Tourism Choi Hwi-young announced.
Minister Choi stated that President Lee “directed ministries to refrain from asset sales unless absolutely necessary and to obtain prior approval from the Prime Minister for any cases deemed unavoidable.”
The presidential office did not disclose the specific reason behind the President’s urgent directive.
The Ministry of Economy and Finance, which oversees national property management, is scheduled to hold a briefing at 10 a.m. on November 4 to explain the background and context of the order.
Meanwhile, observers noted that the directive may be linked to recent parliamentary scrutiny of the Korea Asset Management Corporation (KAMCO) over its asset disposal practices during the ongoing National Assembly audit.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
