Justice Party "Government Housing Supply Measures Remind of 'MB New Town'"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] On the 4th, the Justice Party criticized the government's announced housing supply plan, saying, "The urban public housing complex project centered on the development of Seoul's station areas reminds us of former President Lee Myung-bak's (MB) New Town policy."

Chief Spokesperson Jeong Hojin said in a written briefing, "There are concerns that Seoul will become a city of indiscriminate development rather than a balanced urban ecosystem and sustainable Seoul."

Chief Spokesperson Jeong expressed concern that "the 25th measure to supply 836,000 houses nationwide might become a boon for speculative and construction forces, effectively giving wings to housing prices," adding, "Reviving the traces of failed housing policies of past governments is nothing but a reservation of failure."

He added, "To control housing prices, fundamental and consistent measures such as supplying affordable housing and long-term public rental housing, and strengthening holding taxes to curb speculation are necessary," and said, "The government must not let the president's declaration of war against real estate speculation forces end in futility."

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