Koo Yun-cheol: "We will swiftly supply 60,000 housing units by using idle sites in city centers and continue to identify additional locations"

According to The Financial News, Koo Yun-cheol, Deputy Prime Minister and Minister of Finance and Economy, chaired a Ministerial Meeting on Promoting Housing Supply at Government Complex Seoul on the 29th to discuss measures to expand and accelerate housing supply in urban areas.
Koo explained that the new measures to expand and speed up housing supply in city centers were prepared as an extension of the housing supply expansion plan announced on September 7 last year. He noted that the government is acting under the principle of managing the real estate market in a stable manner by balancing both demand and supply.
Koo said, "We will swiftly supply 60,000 housing units to help stabilize housing for young people and newlyweds by using idle sites in easily accessible urban areas." He added, "Relevant ministries will closely monitor the implementation status of projects at the candidate sites included in this plan so that the public can clearly feel the faster housing supply."
In particular, Koo stressed, "We will not stop at announcing today’s measures. We are continuously identifying additional housing supply in urban areas and reviewing institutional reforms to further expand supply." He emphasized, "We will announce concrete measures as soon as possible."
Participants also agreed to implement the new measures to expand and accelerate housing supply without setbacks. At the same time, they will continuously identify areas where conditions are in place for additional supply and move to release any available housing units without delay to help stabilize housing for the public.

syj@fnnews.com Seo Young-jun Reporter