The sale of state properties worth at least 30 billion won, or around 20 million U.S. dollars, will require advance reporting to parliament for public discussion, and the sale of assets below their appraised value will be banned.

The finance ministry announced the measures on Monday after the ruling camp accused the Yoon Suk Yeol administration of offloading its shares of news channel YTN in an alleged fire sale.

In a bid to prevent the indiscriminate privatization of state assets and to enhance transparency in the disposal process, the ministry will also set up an external committee to review the potential sell-off of properties worth at least 5 billion won.

Currently, state asset sell-offs require only approval from the board of directors at the relevant ministry or agency.

A final decision on the sale of state shares in a public entity to a private company must be made by the National Assembly.

Before selling assets to the private sector, the government will first assess whether local governments or other public institutions can use them.