South Korea Halts Government Asset Sales Over Undervaluation Concerns

South Korean President Lee Jae Myung has issued an emergency order to immediately halt all sales of government assets amid allegations that previous administrations sold state properties below market value. The directive requires all ministries to review ongoing and planned asset sales, with any necessary disposals needing prior approval from Prime Minister Kim Min-seok. This move follows intense scrutiny during parliamentary audits and media reports raising concerns about undervalued asset transactions. The finance ministry is scheduled to provide further details in an upcoming briefing, and ministries are tasked with investigating past sales to propose corrective measures ensuring transparency and protecting public interest. The administration's actions reflect a commitment to tighten oversight and ensure fair valuation in managing public assets.