"Supplying Apartments at 70–80% of Market Prices" [Kicking Off the June 3 Local Elections]

Chong Won-o, a preliminary candidate for Seoul Metropolitan City Mayor, pledged to turn Seoul into Asia’s economic and cultural hub as he announced his bid. As a way to ease the housing shortage, he outlined a policy direction to supply apartments at 80% of market prices. He also proposed expanding the authority of district governments over redevelopment projects to speed up those projects.
At a press briefing held on the 11th at the annex of Sangyeonjae in Jung District, Seoul, Chong addressed housing issues, stating, "We will move faster while increasing accountability so that redevelopment, reconstruction, and urban renewal projects become safer." He added, "By expanding the authority to designate redevelopment projects to district mayors starting from complexes with fewer than 500 households, we will allow district offices to lead projects and resolve bottlenecks." He indicated that, if elected mayor, he will maintain his stance of delegating the power to designate small and mid-sized redevelopment zones to the autonomous districts.
He also put forward a plan to supply practical, value-for-money apartments priced at about 70–80% of market levels to help resolve the housing crunch. He predicted rising demand for rental apartments for young people and newlyweds, as well as for "senior-service apartments" where older residents can receive medical care along with welfare and care services.
Addressing the controversy over the plan to supply 10,000 housing units in the Yongsan International Business District (YIBD), Chong said, "Whether it is 8,000 or 10,000 units is not what matters," and continued, "We can fully manage 10,000 units, so we will move forward with 10,000 while resolving the special-zone issues." He went on, "YIBD should be designated as a Riverside Development Zone to offer incentives attractive enough for global corporate headquarters to move in," adding, "In close consultation with the central government, we will resolve issues such as visas and international schools."
Chong has made "Seoul’s leap to a global G2 city" one of his key campaign pledges. He stressed, "It is possible for New York in the West and Seoul in the East to become the world’s two leading global cities," and added, "One of our global G2 goals is to build a Seoul that attracts capital, talent, and companies, and a Seoul where businesses can continue to grow."
On the Hangang Bus project, he noted, "It seems there is considerable agreement with the view that the Hangang Bus lacks efficiency as a means of transportation," and said, "Once safety is improved, we will then review it for tourism and other purposes." He particularly emphasized, "If safety cannot be guaranteed, then regardless of any sunk costs, action will be necessary," drawing a clear line against treating it as part of the public transportation network.
Using the slogan "a Seoul where taxpayers feel their money is well spent," Chong has continued to criticize Mayor Oh’s policies as being focused on "projects the administration wants." He cited the "Garden of Gratitude" as an example of wasteful spending. "The 'Garden of Gratitude' was a project that citizens did not ask for," he said, adding, "Since the citizens are the true owners of Seoul, they should not feel their taxes are being wasted, and that means we must do what citizens want and ask for." He went on, "We have a plan for how to revise the Garden of Gratitude, and I will present it as a campaign pledge."
chlee1@fnnews.com Reporter Lee Chang-hoon Reporter