The Transition Team to Announce Comprehensive Real Estate Policy... TF Launched

President-elect Yoon Suk-yeol is attending the transition committee secretariat meeting held at the Presidential Transition Committee in Tongui-dong, Jongno-gu, Seoul on the 22nd, delivering opening remarks. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Kim Hyemin] The Presidential Transition Committee has established a separate organization to oversee real estate policy, a core task of the new government. It plans to review pledges related to real estate supply, taxes, and loans scattered across different divisions and ultimately present a comprehensive policy that covers the entire real estate sector.

On the 23rd, Shin Yonghyun, spokesperson for the Transition Committee, held a briefing at the committee's office in Samcheong-dong, Jongno-gu, Seoul, and announced this. He explained the reason for the new organization, saying, "To smoothly implement real estate-related pledges, close coordination among various tasks and a smooth implementation plan are necessary."

The Real Estate Task Force (TF) will be led by the Economic Division 2, which oversees real estate supply policies, and will include professional and working-level members from Economic Division 1, which handles taxes and finance, to coordinate policies. Economic Division 2 currently includes five real estate experts: Professor Shim Gyo-eon of Konkuk University’s Department of Real Estate, Kim Seongbo, Director of Seoul City Housing Policy Office, Baek Wonguk, Director of Land Policy at the Ministry of Land, Infrastructure and Transport, Jeong Jongdae, Director of Seoul City Housing Policy Support Center, and Kim Yongsu, a professional member of the National Assembly Land, Infrastructure and Transport Committee from the People Power Party. Professor Shim has been appointed as the TF team leader.

External experts will also participate in the Real Estate TF on a non-full-time basis. In this process, there is a possibility that real estate policy will be addressed from a macro perspective, including education, childbirth, and regional balance. A Transition Committee official stated, "We will listen to the opinions of various field experts and establish a comprehensive implementation plan for real estate policy."

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