Economic All-In Lee Jae-myung, This Time Focusing on Gangbuk Apartment Reconstruction

Policy Meeting on Aging Apartments
Listening to Residents' Opinions on Reconstruction
Promises to Ease Safety Inspection Regulations

Lee Jae-myung, the Democratic Party presidential candidate, is observing the surrounding aging apartment complexes from the rooftop of a building in Nowon-gu, Seoul, on the 13th. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Jeon Jinyoung] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, visited old apartments in Seoul on the 13th to gather opinions on reconstruction and pledged to rationalize regulations. He expressed his intention to revitalize reconstruction in the Gangbuk area to achieve balanced development between Gangnam and Gangbuk and to expand real estate supply.

On the morning of the same day, Lee visited an old apartment in Sanggye-dong, Nowon-gu, Seoul, inspected the site, and held a policy meeting. Reconstruction of old apartments in Seoul has not been smoothly carried out since the tenure of the late Park Won-soon, former mayor of Seoul. In particular, Nowon-gu is home to many reconstruction target complexes, such as the Sanggye Jugong Apartments built in the 1980s. Residents appealed to Lee at the meeting, saying, "The apartments were built based on 1985 standards, so even washing machines have to be taken apart to fit through the windows," and "The number of parking spaces per household is 0.66. We receive requests to at least allow parking in the alleys."

In the subsequent meeting, Lee emphasized, "Gangnam was mostly built in the 1970s and reconstruction has been allowed, but Gangbuk was built in the 1980s and was not eligible. Later, safety inspections were significantly strengthened, effectively blocking reconstruction," adding, "We need to operate necessary regulations appropriately so that additional housing supply is possible without causing suffering to the people." He proposed easing safety inspection regulations for old apartment complexes, aiming to lower the threshold for apartment reconstruction by, for example, relaxing the weight of the 'structural safety' category.

On the day, Lee also bowed his head, saying, "When real estate issues come up, we have nothing to say. Once again, I deeply apologize to the people for causing suffering due to real estate and housing problems." Lee has recently been putting all his efforts into winning over public opinion on real estate. Real estate issues have been cited as a reason for the Democratic Party's loss in last year's Seoul mayoral by-election and are considered a factor in the shift of Seoul public opinion, which had been favorable to the Democratic Party. He has previously pledged to ease burdens on property tax and capital gains tax and to supply housing on a large scale.

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