President Lee Jae Myung urged the government to block speculation that could distort the nation's economy.

Presiding over a Cabinet meeting at the presidential office in Seoul's Yongsan District on Tuesday, Lee ordered ministries to implement all available policy measures to suppress unproductive speculative demand.

The president's remarks came in the wake of tightened regulations on homebuyers in the capital area amid skyrocketing apartment prices.

Lee said the nation is in the process of diversifying avenues for asset-building, referring to the fact that the benchmark Korea Composite Stock Price Index(KOSPI) broke three-thousand-800 points for the first time on Monday.

The president then repeated his call for anti-speculative measures, stating that consistent and effective policy is necessary to solidify productive financial practices.