Finance Minister Kim Dong-yeon says it must be decided carefully whether the minimum period in which reconstruction of apartments is banned should be extended from the current 30 years to 40 years. 

Kim made the remark during a talk session with senior journalists at the Press Center in Seoul on Friday. He added that the issue needs be thoroughly reviewed.

The minister said extending the period can backfire by putting those living in northern areas of Seoul at a disadvantage rather than those in more posh southern areas, which the measure is supposed to target, adding there are many factors to be taken into consideration. 

Speculation has been swirling around the issue since Land, Infrastructure and Transport Minister Kim Hyun-mee said last week that the government is considering tougher rules on apartment reconstruction in an effort to cool rapidly rising housing prices.