Justice Party: "3rd New Town Supply Must Be 100% Public Housing"

[Asia Economy Reporter Oh Ju-yeon] The Justice Party has stated that the new housing units planned to be supplied in the 3rd phase new towns in the Seoul metropolitan area should be supplied as 100% public housing.

On the 3rd, Representative Yeo Young-guk held a press conference at the National Assembly main building and said, "Publicness is partially included in the housing supplied in the 3rd phase new towns, but we should expand this fully, completely eliminate private sales, and supply 100% of the units publicly."

Representative Yeo said, "The idea is to supply at a low price from the time of sale and to prevent expectations of capital gains," adding, "Whether it is land lease or repurchase condition, through the concept of public owner-occupied housing, supply should be provided cheaply from the start to actual demanders, and while holding the property, relatively stable property taxes should be paid so that it can be stably supplied to actual demanders who are non-homeowning low-income citizens."

He continued, "If public supply is ignored, it is clear that speculative waves that emerged during the land development process of the 3rd phase new towns will also appear in the housing subscription, sales, and subsequent processes," emphasizing, "The Justice Party will supply all housing units in the 3rd phase new towns publicly so that housing becomes a place to live, not an object of speculation."

Sim Sang-jung, Chairperson of the Justice Party’s Special Committee for the Dismantling of the Real Estate Speculation Republic, also said, "We strongly urge the government to supply 180,000 units in the 3rd phase new towns as 100% public housing," adding, "We also call for the establishment of a 'New Town Special Account' to this end."

Chairperson Sim explained, "The 3rd phase new towns already have public land developed," and said, "The government designated the land development districts for public interest purposes, sacrificing local residents' property rights, housing rights, and cultivation rights. Since this land was created through citizens' cooperation and the state's coercive power, public land must be strictly used in a public-oriented manner."

He proposed, "From now on, public land should be supplied only as public housing," suggesting, "Starting with the 3rd phase new towns, the housing supply method should be completely changed so that half are long-term public rental housing, and the other half are provided as public owner-occupied housing through land lease or repurchase conditions." Chairperson Sim said, "Then, a high-quality public housing complex mixed with public rental and public owner-occupied housing can be created, providing a residential safety space without social stigma," adding, "Of course, the housing size should be adjusted according to household composition such as the increase of 1- and 2-person households, and minimum housing standards should also be raised."

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