Sangwoo Park, Minister of Land Nominee, "Expand Housing Supply in Urban Areas by Easing Regulations"

Park Sang-woo, the nominee for Minister of Land, Infrastructure and Transport, announced on the 20th that he will increase housing supply in urban areas through deregulation.

Park Sang-woo, nominee for Minister of Land, Infrastructure and Transport, is delivering an opening statement at the confirmation hearing held at the National Assembly on the 20th. / Photo by Hyunmin Kim kimhyun81@

At the National Assembly Land, Infrastructure and Transport Committee confirmation hearing, in response to a question from Kwon Young-se, a member of the People Power Party, who pointed out that the government's housing supply plan is facing setbacks, Park said, "We will identify areas where housing supply can be quickly increased and prioritize deregulation in those areas. In particular, we will ensure that housing supply in urban areas is significantly expanded."

The Yoon Seok-yeol administration has expressed its intention to supply 2.7 million housing units over its five-year term, including 470,000 units in the first year. However, achieving this goal is uncertain due to rising interest rates and increased material costs.

Park also emphasized that for fundamental innovation of the Korea Land and Housing Corporation (LH), "the organization’s members themselves must awaken." He stated, "We will carry out the government's announced (LH innovation plan) without fail," adding, "The organization’s members must recognize their heavy national responsibilities and continuously foster a culture of self-purification and self-reliance ('Jagangbulshik')."

He further added, "To achieve this, it is necessary to reform the organizational structure, internal promotion system, and assignment pathways. Upon taking office, as the minister overseeing the supervisory department, I will support and encourage the organization to innovate on its own."

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