President Moon Supports Ruling Party Presidential Candidates on 'Greenbelt Preservation'...

Remaining Term, Large-Scale Housing Supply Lost Due to Additional Greenbelt Release... Real Estate Supply, an Unresolved Issue

[Asia Economy Reporter Ryu Jeong-min] President Moon Jae-in has presented a solution that supports the ruling party's next presidential candidates amid the controversy over the lifting of the "Greenbelt" (development-restricted zones).

Although the justification of "preserving the Greenbelt" was reinforced, political logic influencing real estate issues has effectively nullified the "last card" for housing supply. While a scenario was created where President Moon personally resolved the confusion surrounding the ruling party, government, and Blue House, it has become difficult to avoid the aftershocks.

The Office for Government Policy Coordination explained the results of the weekly meeting between President Moon and Prime Minister Chung Sye-kyun on the 20th, stating, "The Greenbelt will not be lifted and will continue to be preserved for future generations." A key Blue House official explained, "The two (President Moon and Prime Minister Chung) consulted and settled the matter."

[Image source=Yonhap News]

Prime Minister Chung, classified as a "presidential hopeful," recently gained attention by advocating for the preservation of the Greenbelt. On the 19th, he appeared on KBS 1TV's "Sunday Diagnosis Live," stating, "Once the Greenbelt is damaged, it cannot be restored," expressing a cautious stance.

While Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki and Blue House Policy Chief Kim Sang-jo mentioned the possibility of lifting the Greenbelt, the sitting Prime Minister effectively put the brakes on it. As a result, President Moon accepted Prime Minister Chung's view.

Democratic Party lawmakers Lee Nak-yeon and Gyeonggi Province Governor Lee Jae-myung, who are the top two candidates in the ruling party's presidential race, also supported preserving the Greenbelt. Lee Nak-yeon told reporters on the morning of the previous day, "We must be extremely cautious about touching the Greenbelt." Governor Lee also posted on Facebook that afternoon, evaluating, "The President's decision to exclude the lifting of the Greenbelt from discussion is appropriate, reasonable, and a wise decision."

The ruling party's presidential candidates leaning toward preserving the Greenbelt is not unrelated to the views of key support groups such as those in their 30s and 40s. If they were to support development while these generations advocate for preservation, it could translate into a political burden.

President Moon himself was in an unfavorable position as the controversy over lifting the Greenbelt intensified amid a recent decline in approval ratings for his administration. Although he moved to resolve the issue before the controversy spread further, the Moon administration's "Greenbelt dilemma" remains unresolved.

Some areas of the third phase new towns, such as Changneung New Town in Goyang, Gyeonggi Province, are preparing housing supply through lifting the Greenbelt. The Seoul Taereung Golf Course site, which the government is considering as a housing supply solution, is also part of the Greenbelt. Although the government declared it would preserve the Greenbelt for future generations, it is a contradictory situation where damage to the Greenbelt seems inevitable.

Moreover, since the presidential message of preserving the Greenbelt has already been announced, large-scale residential district development through additional lifting of the Greenbelt in the outskirts of Seoul or Gyeonggi Province during the remaining term has become difficult. Unless the government's policy stance on redevelopment and reconstruction changes, housing supply is expected to remain an unsolved challenge.

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