Prime Minister Lee Nak-yon has pledged to make an all-out effort to stabilize housing prices.
 
During a Cabinet meeting Tuesday, the prime minister refuted criticism that the government's recent real estate policies are a punitive tax bomb for home owners. 
 
Lee said that just one-point-one percent of all home owners will be affected by a higher comprehensive real estate tax. 
 
He added that many are frustrated and upset about skyrocketing apartment prices, citing a poll where 39 percent of those surveyed found the latest measures unsatisfactory and insufficient. 
 
The prime minister then promised to closely monitor market trends and take all possible action to curb the overheating housing market.