The Chaotic Greenbelt Has an 'Entrance' but No 'Answer'

[Asia Economy Reporters Inho Yoo, Hyunjung Kim] The real estate supply plan has lost its way amid controversy over the release of the Greenbelt (development-restricted zone). Although numerous statements have been made from the Blue House, ruling party, and government agencies, there is a growing possibility that yet another hollow plan will be presented without any concrete answers.

According to the ruling party and government on the 20th, the housing supply expansion plan, which the government is expected to announce as early as this month, will reportedly not include the controversial Greenbelt release or the easing of reconstruction regulations.

A government official said, "There is strong negative sentiment, including opposition within government ministries as well as the political sphere, making it difficult to put the Greenbelt release issue on the table." He added, "For now, the plan will be prepared at the level announced during the July 10 measures."

In fact, it was reported that there was no significant progress on the Greenbelt release discussion during the related ministers' meeting (Green Room meeting) held in the morning under the chairmanship of Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki.

Deputy Prime Minister Hong currently heads the government's 'Housing Supply Expansion Task Force (TF).' The meeting was attended by Minister of Land, Infrastructure and Transport Kim Hyun-mi, Director of the Office for Government Policy Coordination Koo Yun-cheol, and Senior Secretary for Economic Affairs to the President Lee Ho-seung, but the discussion was limited to agreeing on the need to prepare supply measures as soon as possible.

A Ministry of Economy and Finance official said regarding the meeting, "We discussed measures to expand housing supply in the metropolitan area and agreed to continue consultations with related ministries and agencies."

Accordingly, the upcoming supply plan is expected to include measures such as ▲improving urban planning regulations for high-density development in city centers ▲increasing floor area ratios in the 3rd new towns ▲discovering new sites such as idle land around cities and national facility sites within cities ▲supplying public rental and sale apartments for youth and newlyweds during public redevelopment and reconstruction ▲utilizing vacant commercial and office spaces in city centers. These are all measures broadly outlined in the July 10 plan.

The reason the supply plan has stalled appears to be the spread of opposition not only within the political sphere but also within government ministries since the government announced its intention to discuss Greenbelt release. In fact, the Greenbelt release debate has already expanded beyond the government into a political issue. Key ruling party presidential hopefuls such as Gyeonggi Province Governor Lee Jae-myung and Democratic Party lawmaker Lee Nak-yeon have consecutively expressed opposition to the release.

Additionally, contenders for the next Seoul mayor, including Justice Minister Choo Mi-ae and former Seoul Mayor Oh Se-hoon, have joined the debate. Prime Minister Chung Sye-kyun also expressed a negative stance, saying the Greenbelt release should be approached "with caution."

As a result, criticism has arisen that the government's 'Housing Supply Expansion Task Force (TF),' which was formed to create a groundbreaking supply plan, has effectively become meaningless.

Professor Choi Bong-moon of Mokwon University (Chairman of the Citizens' Coalition for Economic Justice Urban Reform Center) said, "Top-down policies that unilaterally set policy directions from above inevitably cause problems," adding, "This Greenbelt controversy is a clear example of such policy confusion."

Reporters Inho Yoo and Hyunjung Kim sinryu007@

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