SEOUL (Reuters) – South Korean President Lee Jae Myung issued an emergency order on Monday to stop all sales of government assets, and ordered government departments to re-examine asset sales in progress or under review, the South Korean government said.
Lee ordered the suspension of government asset sales following concerns raised during parliamentary audit sessions and in the media that assets were being sold too cheaply, his office said in a statement.
The order stated that the government should refrain from selling assets, unless there was an essential requirement for a sale and only then with the prior approval of the Prime Minister.
“The relevant ministry will promptly find the facts surrounding the sales of state-owned properties at a low price and come up with measures to improve the system,” Lee’s office said.
The finance ministry is due to hold a media briefing on Tuesday on the matter, the Yonhap News Agency said.
(Reporting by Joyce Lee, Ju-min Park; Editing by Ed Davies)
