Land Minister Hong Ji-seon: “We will swiftly supply housing in the Seoul metropolitan area ... and achieve region-led growth”

[Financial News] Land, Infrastructure and Transport Minister Hong Ji-seon emphasized that the government would move swiftly to supply housing in the Seoul metropolitan area.
Appearing before the National Assembly’s Land, Infrastructure and Transport Committee for a parliamentary audit on the 7th, Minister Hong said, “Above all, I will firmly establish the foundations for supply so that the housing needed in the Seoul metropolitan area can be supplied in sufficient quantities and without delay.”
Minister Hong said he would work to stabilize the housing market. “I will establish a model for starting construction on public housing sites in the shortest possible time and secure new sites to increase the volume of construction starts on public housing sites,” he said. “I will also actively remove obstacles that slow down urban housing supply projects, including redevelopment and reconstruction.” He added, “We will provide incentives to projects that move forward quickly and take a more active role in resolving conflicts and disputes on the ground.”
He said the government would also strengthen the housing safety net without delay. Minister Hong said, “We will strengthen the safety net so people can live in good homes without worry. We will carry out housing stability plans, including public housing and universal public rental housing, without disruption, while also improving the housing support system comprehensively, including by expanding eligibility for housing benefits. Through a rental deposit fraud risk assessment service and a minimum guarantee scheme, we will provide the public with stronger protection against rental deposit fraud.”
He also commented on the spin-off of Korea Land and Housing Corporation (LH). “We will draw up effective reform measures so LH can properly fulfill its core roles of housing supply and housing welfare while maintaining the public’s trust,” he said.
Minister Hong also emphasized realizing the government’s region-led growth. “We will create business-oriented high-tech cities that channel companies’ investments into regional growth, making regions places that attract businesses and young people,” he said. “We will announce the second relocation plan for public institutions within the year, without disruption, after fully gathering the views of regions, institutions and their employees. We will also expand transport infrastructure, including roads, railways and airports, with a focus on regional areas, connecting regions with one another and linking industries and jobs with new opportunities.”
He also pledged to strengthen safety measures at construction sites. “We will never compromise under any circumstances when it comes to the lives of the public and the safety of workers on site,” he said. “We will prevent shoddy construction at building sites and overhaul safety management throughout the demolition process, shifting to a system that prevents risks in advance rather than dealing with them after an accident. We will also root out entrenched illegal and unfair practices in the construction industry, such as illegal subcontracting and unpaid construction costs, through effective systems and inspections.”
Minister Hong added, “We will swiftly pursue the regulatory reform measures proposed by the public and reform the used-car market as well, creating a market where consumers can trade with confidence.”

[email protected] Jeong Gyeong-su Reporter