‘Special Supply Measures’ to Be Announced Tomorrow... Party and Government Discuss Real Estate Measures

[Asia Economy Reporter Jeon Jin-young] The Democratic Party of Korea and the Ministry of Land, Infrastructure and Transport held a party-government consultation at the National Assembly on the 4th to discuss real estate measures.

At the meeting, the party and government will finalize the first real estate measures since Minister Byeon Chang-heum took office at the Ministry of Land, Infrastructure and Transport. After the consultation, Minister Byeon is scheduled to announce plans to expand housing supply in metropolitan areas.

Minister of Land, Infrastructure and Transport Byeon Chang-heum is attending the "13th Real Estate Market Inspection Meeting of Related Ministers" held at the Government Seoul Office in Jongno-gu, Seoul on the 15th. Photo by Kang Jin-hyung aymsdream@

Earlier, President Moon Jae-in stated at the New Year's press conference, "We will present extraordinary supply measures that can immediately alleviate public anxiety."

This measure is likely to be a large-scale supply plan involving 300,000 to 500,000 households. Inside and outside the party, the prevailing view is that a plan will be announced to supply up to 300,000 units in Seoul and more than 500,000 units nationwide in major cities combined. The measures are expected to be implemented through methods such as public redevelopment, easing of reconstruction regulations, and high-density development in station areas and semi-industrial zones.

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