Byeon Chang-heum "Sufficient Housing Supply Possible in Seoul... Supply Plan to Be Announced Before Lunar New Year"

Inauguration Ceremony of New Minister of Land, Infrastructure and Transport
"Housing Supply Possible Using Low-Density Development Areas in Seoul"
"Rapid Launch of Real Estate Transaction Analysis Agency"

Repeated Apology for Various 'Slip of the Tongue' Controversies
Strong Commitment to Actively Promote Serious Accident Punishment Act Legislation

Minister of Land, Infrastructure and Transport, Byeon Chang-heum, is reading his inaugural speech at the Sejong Government Complex on the 29th. (Image source: Ministry of Land, Infrastructure and Transport YouTube)

[Asia Economy Reporter Lee Chun-hee] Byun Chang-hoom, the newly appointed Minister of Land, Infrastructure and Transport, presented policy tasks aimed at stabilizing the real estate market, including expanding housing supply in Seoul through high-density development and establishing a Real Estate Transaction Analysis Institute, as his inaugural statement. He also expressed apologies for his previous verbal missteps.

Minister Byun revealed these plans and aspirations during his inauguration speech at the Ministry of Land, Infrastructure and Transport ceremony held at the Sejong Government Complex on the 29th. He proposed five major principles for land and transport policy and administration: ▲administration that provides 'trust' to the people ▲administration that fundamentally improves 'quality of life' ▲administration with 'fieldwork and participation' ▲administration that develops and spreads a 'decentralized execution model' ▲administration that pursues 'universal human values and principles.'

He also mentioned a blueprint for specific policies. Regarding housing supply, Minister Byun emphasized the provision of 'affordable housing.'

In particular, concerning housing supply in downtown Seoul, he reiterated several times that "if transit station areas, semi-industrial zones, and low-rise residential areas, which are currently low-density developed, are effectively utilized, sufficient housing can be supplied," dismissing the view that housing supply is no longer feasible. He stressed that by boldly easing urban planning and building regulations and having public developers cooperate with residents and private entities, it is possible to supply affordable and high-quality housing.

Minister Byun also announced plans to prepare and announce specific measures related to housing supply before the Lunar New Year holiday in February next year.

Regarding other housing policies, he stated that existing supply measures such as public jeonse housing and the 3rd New Town development would be implemented without disruption. He also mentioned efforts to stabilize the jeonse and monthly rent markets and considerations for housing issues in local areas, indicating that he would continue the policy direction of former Minister Kim Hyun-mi.

Minister Byun expressed a negative view of the current real estate market. He vowed to eradicate illegal activities that disrupt the market, saying, "We will promptly launch the Real Estate Transaction Analysis Institute and strengthen on-site inspections and crackdowns in cooperation with the National Tax Service and local governments." He also revealed plans to block speculative demand and establish a system to share development profits.

He outlined a vision related to housing welfare. To practically guarantee housing rights, Minister Byun said that the current minimum housing standards should be restructured into appropriate housing standards that allow spaces where people can work from home and provide care even while staying at home. He pledged to start reforming housing supply standards beginning with public housing.

President Moon Jae-in attended the appointment ceremony for new Cabinet members held at the Blue House on the morning of the 29th, and after presenting the appointment letter to Minister of Land, Infrastructure and Transport Byeon Chang-heum, he applauded.
[Image source=Yonhap News]

In the transportation sector, he stated, "Through the experience of the COVID-19 pandemic, all citizens have realized the importance of logistics and parcel delivery," and pledged to expand smart logistics facilities to modernize the logistics industry system and protect the rights and interests of logistics workers. He also announced plans to prepare an 'aviation industry development plan' to overcome the crisis faced by the aviation industry, which is also struggling due to COVID-19.

To promote industrial innovation, he presented a vision to transform the construction industry from being concentrated in the construction phase to a high value-added industry encompassing project management (PM), business planning, engineering, and operations management, while integrating smart technologies. In the transportation industry, he emphasized the need for mobility innovation and said he would swiftly establish autonomous vehicle operation infrastructure such as C-ITS and 3D precision road maps by utilizing regulatory sandboxes, and also foster the K-Drone industry.

Meanwhile, Minister Byun once again apologized and expressed his commitment regarding various verbal missteps that surfaced during the parliamentary personnel screening process. He said, "I accept the criticism with a heavy heart for having hurt the people's feelings with thoughtless remarks, and I would like to take this opportunity to apologize once again," promising to be more reflective and act prudently.

He continued, "Especially, I will do my utmost to ensure that the promise to protect the lives of citizens at hazardous sites is upheld under any circumstances," and pledged to promptly prepare a 'field-centered safety management reinforcement plan' to regularly inspect and manage safety on-site. He also expressed his intention to actively provide opinions during the legislative process of safety-related laws such as the Serious Accident Punishment Act to prevent recurrence of accidents.

Finally, Minister Byun emphasized, "If we listen to the voices from the field and discover feasible policies, we will surely find clues to solutions," urging the presentation of new solutions.

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