Oh Se-hoon "Create a 2 trillion won fund to supply housing quickly and in large quantities"

[Financial News] Oh Se-hoon, Mayor of Seoul, emphasized at the '3rd Anniversary Press Conference of the 8th Popular Election' held at Seoul City Hall on the 16th that "the focus will be on how to quickly secure and supply a large quantity of public housing" and "Seoul City's determination is to use all methods to quickly proceed with (construction and other procedures)."
Oh Mayor said, "As a result of securing the speed and diversity of housing supply through rapid integrated planning and collective housing, Seoul has restored a pipeline for supplying 220,000 housing units over the past three years," and "I will introduce the 'Public Housing Promotion Fund' to Seoul, which was first mentioned during a recent business trip to Austria."
The Public Housing Promotion Fund is planned to be used as an incentive to induce private construction of public housing. In Vienna, Austria, private developers for public housing construction are selected through a design competition. The selected developers can receive long-term low-interest loans from the promotion fund. 
Oh Mayor said, "Through the Public Housing Promotion Fund, it will be possible to provide direct financial incentives for practical costs such as land acquisition support, construction financing, and interest support," and "If approximately 2 trillion won in resources is prepared over about 10 years, about 2,500 additional households can be supplied annually in addition to the planned quantity."
However, he expressed concern that the government's 'consumption coupons' could lead to an increase in money supply and cause house prices to rise. Oh Mayor emphasized, "Temporarily releasing money is the worst of the worst methods," and "It's about releasing money under the pretext of a recession, but while it may stimulate consumption to some extent, ultimately, the increase in money supply will lead to a proportional rise in housing prices." Oh Mayor further pointed out, "I 120% agree with the government's policy goal of stabilizing real estate prices downward, but ultimately, it will lead to a rise in real estate prices, albeit with a time lag."
As the core of the 4th year of his administration, he presented the 'Renaissance of Quality of Life.' It is an expanded concept of the 'Daily Revolution,' the theme of the 3rd year of his administration. Oh Mayor stated, "If I were to name the policy that had the greatest impact on quality of life, it would probably be the expansion of green spaces and waterfront spaces throughout Seoul and the enhancement of their usability."
In particular, he emphasized, "We have been expanding recharge spaces in daily life, naming it 'Stream Renaissance' beyond 'Han River Renaissance,' and will continue to invest in projects such as garden cities and waterfront emotional cities without hesitation."
Regarding the Han River bus, which is set to officially operate in September, he said, "I am sorry that it is more than a year behind the target time, but it is more of a technical issue than an administrative mistake," and evaluated, "There is value in having a new transportation means that meets different needs."
He also expressed confidence in the 'Climate Companion Card,' which covers public transportation, including the Han River bus. Oh Mayor said, "The Climate Companion Card is receiving positive evaluations from citizens as it gains great support," and "Based on this, I will clearly determine my position while observing how citizens evaluate (housing and transportation policies)."
chlee1@fnnews.com Lee Chang-hoon Reporter