Deputy prime minister nominee Yoo Il-ho has said that he has no plans to change existing mortgage regulations.
 
He stated his policy directions in a second written report submitted to the National Assembly's Strategy and Finance Committee on Friday ahead of his confirmation hearing.
 
Yoo said in the report that there is no need to change the loan-to-value (LTV) and debt-to-income (DTI) ratios as they have sufficiently contributed to boosting housing transactions and domestic demand since being adjusted in August.
 
The nominee was also negative regarding a tax hike including higher corporate tax. He said that raising taxes is the last resort as it increases public burden, adding that a tax hike could negatively affect the economy given the present situation.
 
Regarding measures to tackle unsold housing, Yoo said it's not the time to review such measures yet as housing demand is forecast to be sufficient for the time being amid the low interest rates and rising number of one or two-person households.
 
On this year's economic growth, he said the South Korean economy will be able to grow in the three percent range and achieve the three-point-one percent growth target, thanks to continued recovery in domestic demand and effects of stimulus measures.