Kim Jong-in Supports O Se-hoon's 'Post-Occupancy Sale System'... "Let's Adopt It as Party Policy"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Former Seoul Mayor Oh Se-hoon, considered a leading opposition presidential candidate, voiced strong support for Kim Jong-in, the emergency committee chairman of the United Future Party, who proposed the 'post-construction sale system' as a solution to real estate issues, urging that it be adopted as party policy. Ahead of the presidential election and the April by-election, it appears that former Mayor Oh is making efforts to assert his presence.

On the 14th, former Mayor Oh stated on Facebook, "Since Chairman Kim emphasized the post-construction sale system, I sincerely hope it will be adopted as party policy and lead to stabilization of the real estate market." On the same day, Chairman Kim mentioned the post-construction sale system as one of the measures to curb real estate speculation during a discussion hosted by the Kwanhun Club.

He also referred to media reports about "supplying 20,000 apartments in Gangnam," saying, "I advise with the hope that the plan to increase supply in the heart of Gangnam, the epicenter of rising housing prices, through discussions between the Seoul Metropolitan Government and the Ministry of Land, Infrastructure and Transport, will contribute to stabilizing housing prices." He advocated a combination of three measures: ▲ resale-restricted sales ▲ land lease sales ▲ long-term rental housing.

Former Mayor Oh emphasized, "Resale-restricted sales are a successful public housing supply method in Singapore, land lease sales were a half-price apartment policy successfully experimented during the MB (Lee Myung-bak) administration, and long-term rental housing is a policy I initiated and has been continuously supplied for 15 years." He added, "All three policies aim to minimize real estate speculation profits." He continued, "Although former Mayor Park Won-soon gradually reduced supply, increasing supply sufficiently will definitely contribute to stabilizing jeonse (long-term deposit rental) prices." Furthermore, he stated, "To maximize effectiveness, the three-pronged approach of price ceiling on sales, disclosure of construction costs, and the post-construction sale system should be implemented together." Former Mayor Oh had previously mentioned the 'three-pronged set,' including half-price apartments and the post-construction sale system, as real estate solutions at the 'Future Innovation Forum' led by United Future Party lawmaker Jang Je-won on the 7th.

However, he opposed the 'Greenbelt release' mentioned by Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki, saying, "It should be avoided as much as possible," and added, "Let's not touch the natural environment that our future generations will have to live with."

Former Mayor Oh's remarks are analyzed as an effort to highlight his presence in the competition among presidential candidates within the party. Chairman Kim is also fueling competition among United Future Party presidential candidates with remarks about "people stirring outside the party." With the unexpected passing of Mayor Park, the April by-election next year is emerging as a mini presidential-level event, and former Mayor Oh is being mentioned as one of the leading opposition candidates for Seoul mayor.

This content was produced with the assistance of AI translation services.