UPDATE 2-S.Korea tightens rules on housing to restrain buying frenzy in some cities
(WorldNews South Korea)

SEOUL, June 19 South Korea said on Monday it will tighten mortgage restrictions and curb speculative resales of homes in Seoul and parts of Busan to stabilise hot housing markets amid soaring household debt. Effective July 3, the government will tighten loan limits for home buyers to 60 percent of a property`s value from the current 70 percent in regions showing signs of overheating including Seoul, the finance ministry and financial regulator said in a statement. ......