Oh "Freeze on Official Land Prices and Relaxation of Maintenance Index System" vs Park "Bulldozer-style, Another Yongsan Tragedy"

[Asia Economy Reporters Naju-seok and Oh Ju-yeon] Park Young-sun, the Democratic Party candidate, and Oh Se-hoon, the People Power Party candidate, clashed fiercely over real estate policies, including redevelopment and reconstruction.

At the TV debate hosted by the Korea Broadcasting Journalists Club on the 5th, Candidate Oh emphasized that during the Park Geun-hye administration, the official land price index for Seoul's multi-family housing rose by 14.3%, but under the Moon Jae-in administration, it increased by 72%. He stated that he pledges to freeze the official land price. Regarding the excess profit recovery, he said, "Because the recovery is too excessive, the economic feasibility of projects is not viable," adding, "It needs to be lowered to two-thirds or half."

Candidate Park pointed out that ordinary citizens were excluded from Candidate Oh's policies. She criticized, "Oh Se-hoon-style redevelopment and reconstruction benefit vested interest groups."

Park Young-sun, the Democratic Party of Korea candidate for Seoul mayor, and Oh Se-hoon, the People Power Party candidate for Seoul mayor, are posing before the start of the Korean Broadcasting Reporters Club invited Seoul mayor by-election candidate debate held on the 5th at the Yecheong Hall in Yangcheon-gu, Seoul. Photo by National Assembly Press Photographers.

In particular, Candidate Park addressed Oh's pledge to abolish the Residential Maintenance Index System, saying, "The Maintenance Index System requires a resident consent procedure, and if this procedure is omitted, incidents like the Yongsan Tragedy could happen again." The Residential Maintenance Index System is a criterion used to determine eligibility for new redevelopment projects, but Candidate Oh proposes to ease the stringent standards to activate new district designations.

Park criticized, "This is a pledge for some vested interests," adding, "Some ordinary citizens will be displaced again. The result of New Town projects was that only 20-30% of original residents remained, yet he is pledging for that again."

Candidate Oh explained, "It's not about omitting the entire process but relaxing the ratio," saying, "Initially, a certain number must agree, then half, and finally up to two-thirds consent is required."

However, Candidate Park reiterated her criticism, stating, "There are no benefits for ordinary citizens in Oh Se-hoon-style redevelopment and reconstruction."

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