KREB President Lee Heon-wook: "Housing Supply Is Now in the Execution Phase... Focus Your Capabilities"

[Financial News] Lee Heon-wook, president of the Korea Real Estate Board (KREB), called on employees to focus their capabilities on implementing the government’s housing-supply policy.
According to KREB on the 8th, Lee held a real estate market inspection meeting at the organization’s headquarters the previous day and said, "As the government has prepared systems and policy tools to expand housing supply, the important task now is to ensure that they lead to actual supply on the ground."
Lee’s remarks appear to have followed the announcement of the "Measures for the Rapid Supply of Housing" released on the 13th of last month. Since the policy’s primary goal is to expand housing supply in the Capital Metropolitan Area, the government is operating a whole-of-government supply-monitoring system, and Lee appears intent on strengthening supply efforts in line with it.
After the government announced its measures, Lee instructed officials to review changes in the sales, jeonse and monthly-rent markets in Seoul and the Capital Metropolitan Area, as well as changes in housing supply. He also ordered discussions on diversifying support for redevelopment and maintenance projects, including targeted assistance for small-scale complexes with fewer than 500 households to eliminate blind spots in redevelopment projects. Lee emphasized, "Focus KREB’s capabilities on reducing bottlenecks that arise as redevelopment and maintenance projects are translated into actual housing supply."
KREB also plans to identify the progress and causes of delays at redevelopment and maintenance sites where project implementation has been delayed or encountered difficulties before and after construction begins. It will link these efforts with its existing specialized functions, such as construction-cost verification and dispute mediation. The organization will also strengthen its role in identifying construction-cost disputes and conflicts among stakeholders, including associations and contractors, which are cited as major causes of delays, and in quickly sharing problems identified on the ground with the government so they can be addressed early.
Lee said, "As the government is swiftly pursuing various policies to stabilize the real estate market, KREB must closely monitor how these policies are being implemented on the ground and how the market is responding, so that we can support their effective operation. In particular, we must carefully check whether any redevelopment and maintenance sites are being delayed or facing difficulties during implementation, and promptly convey to the government any need for institutional improvements. As the government is making every effort to expand supply, KREB will also do its utmost to ensure that these policies lead to actual housing supply on the ground."
[email protected] Jung Kyung-soo Reporter