President Yoon: "Reconstruction Without Safety Inspection for Houses Over 30 Years Old"

President Yoon Suk-yeol stated on the 10th, "We will allow reconstruction to begin immediately for houses that have been aging for more than 30 years without requiring a safety inspection."

President Yoon Suk-yeol is speaking at the "Public Discussion on Livelihoods with the People" held on the 10th at Aram Nuri in Goyang-si, Gyeonggi Province, under the theme "Housing Desired by the People." / Photo by Yonhap News

On the same day, during his opening remarks at the 'Public Livelihood Discussion' held at Aram Nuri in Goyang, Gyeonggi Province, themed 'Housing Desired by the People,' President Yoon said, "Our government will completely ease regulations related to redevelopment and reconstruction."

President Yoon's remarks are interpreted as an effort to reverse the macroeconomic environment, such as the housing market slump, which hinders sufficient housing supply, deemed essential to meet the diversified housing demands including single-person households and an aging population, by ensuring a balanced supply and demand through adequate housing provision.

According to President Yoon's statements that day, reconstruction projects will be able to proceed without prior safety inspections, and the aging criteria for redevelopment projects will be relaxed, accelerating maintenance projects. Reconstruction of first-generation new towns such as Bundang and Ilsan in Seongnam, Gyeonggi Province, is planned to start within President Yoon Suk-yeol's term, aiming for the first move-ins by 2030.

This year, more than 140,000 public housing units will be supplied, and burdens related to prices for newly built small housing supply and acquisition will be eased to ensure a variety of housing types are provided within urban areas. Support for construction financing will be strengthened through expanded public real estate project financing (PF) loan guarantees to respond to the downturn in the construction industry.

President Yoon Suk-yeol expressed the government's commitment to expanding supply, saying, "Living in a good place and in a home you want to live in is the most basic right of the people." In particular, he announced plans to completely change regulations on multi-homeowners, signaling the abolition of heavy taxation.

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