Ruling Party: “Oh Se-hoon Responsible for Seoul Housing Supply Shortage”; Urges Use of Returned Yongsan Site

[Financial News] On the 15th, the Democratic Party of Korea called on Seoul Mayor Oh Se-hoon to draw up responsible measures to address the city’s housing supply shortage. It stressed in particular that housing supply should be pursued while preserving the park function of the returned Yongsan site.
Marking the first anniversary of the announcement of the October 15 Real Estate Policy, Han Byung-do, the Democratic Party’s floor leader, said at a meeting on parliamentary audit measures at the National Assembly that “there have been some achievements in curbing speculative demand, but only faster supply is the fundamental answer to stabilizing the housing market.”
In particular, he criticized Mayor Oh for blaming his predecessor and saying the foundation for housing supply had collapsed, calling it “an irresponsible remark that turns a blind eye to the incumbent mayor’s responsibility for Seoul’s housing shortage.” He went on to urge him to “stop blaming others and present responsible alternatives, in consultation with the Ministry of Land, Infrastructure and Transport, to support a rapid push to increase supply.”
Regarding plans for the returned Yongsan site, he explained, “There are areas that can be used, such as sites occupied by existing facilities, while preserving the park function and green spaces, allowing homes to be supplied quickly,” adding, “We’re not proposing to develop the entire site.” He stressed that “the idea is to provide homes for young people and newlyweds while also enhancing the value of the park,” and that “parks and housing stability are not an either-or choice, but a win-win.”
He also said he would examine issues delaying housing supply, including permitting delays and financing difficulties, in relation to the Seoul Metropolitan Government and relevant agencies during that day’s parliamentary audit. “I will make rapid housing supply my top priority and mobilize every available policy tool,” he said.

[email protected] Song Ji-won Reporter