The South Korean government is considering tougher rules on apartment reconstruction in an effort to cool rapidly rising housing prices.

After attending a discussion session on welfare housing policies in Seoul on Thursday, Land, Infrastructure and Transport Minister Kim Hyun-mee said strengthening regulations on the reconstruction of residential buildings should be reviewed. 

She said despite the positive aspects of improving neighborhoods, the practice is being used to inflate housing prices and is wasting social resources. 

The minister said it may be time for the government to look into reconstruction-related rules, such as ones concerning safety and durability. 

Some observers speculate the government could move to ban the reconstruction of apartment blocks less than 40 years old. Currently, the restriction only applies to apartment blocks less than 30 years old.   

They say it's also possible the government will strengthen safety checkups to prevent apartment blocks with no safety-related issues from being reconstructed.