Yoon: "Reconstruction of Houses Over 30 Years Without Safety Inspection" (Update)

Second 'Minsheng Debate'... After Prices, Now Checking Housing Issues
Visiting First-Generation New Towns, Promising to Lift Redevelopment Regulations... "Will Fully Relax"
Multi-Homeowner Regulation Reform Announced... Yoon: "Punitive Taxation Is Wrong"

President Yoon Suk-yeol announced on the 10th that "houses aged over 30 years will be allowed to start reconstruction immediately without safety inspections," signaling an expansion of housing supply through deregulation of redevelopment projects. Since excessive regulations on redevelopment and reconstruction projects during the previous administration caused a supply shortage, the government plans to ease these restrictions to normalize the market. He also promised to abolish regulations on multi-homeowners. This is based on the judgment that punitive taxation on multi-homeowners ultimately affects tenants, so reducing their burden aims to resolve supply shortages in the rental market.

On the morning of the same day, President Yoon held the second "Public Livelihood Discussion" under the theme "Housing Desired by the People" at Aram Nuri in Goyang, Gyeonggi Province, and revealed the government's new year housing policy direction by stating, "Our government will completely lift redevelopment and reconstruction regulations."

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

This discussion was organized to listen to the public's voice on the "housing issue," one of the major livelihood concerns following last week's on-site inspection of "price management," and to find solutions without departmental barriers.

After personally inspecting the aging residential environment of the first-generation new towns on site, President Yoon promised, "The inconvenience of daily life is at a serious level," and pledged to "support swift reconstruction."

The government also presented specific directions for deregulation. President Yoon said, "Houses over 30 years old will be allowed to start reconstruction without safety inspections," and added, "We will transform aging planned cities, including Ilsan, into cities where everyone wants to live." Support measures include ▲establishing a Future City Fund ▲exemption from safety inspections ▲increasing floor area ratio up to 500% ▲prioritizing the creation of public relocation complexes.

Regarding the excessive market regulations of the previous administration, he pointed out, "From a national perspective, if residents want to collectively exercise their property rights and the government blocks that, it is a regrettable situation." President Yoon judged that as a result of tightening redevelopment regulations out of concern for rising housing prices, people ended up living in less safe residential environments. A senior official from the presidential office elaborated, "To solve the housing problem for the people, the intention is to free redevelopment and reconstruction from politics and ideology so that normal economic principles can operate."

On overlapping regulations for multi-homeowners, he forecasted, "We will completely change them." President Yoon expressed concern, saying, "Rental housing naturally comes from multi-homeowners' properties, but if punitive taxation is imposed just because someone owns multiple houses, the burden is passed on to the weaker tenants. Punitive taxation on multi-homeowners as if they are immoral is wrong, and the damage is borne by ordinary citizens."

On the same day, President Yoon also emphasized the importance of "speedy policy implementation so that the public can feel the change," in line with the government's new year national agenda of a "Moving Government." He reiterated the need for meticulous and swift support for detailed measures such as the Ministry of Land, Infrastructure and Transport's promotion of reconstruction without safety inspections, easing of redevelopment aging requirements, reduction of tax burdens on newly built small housing supply, and expansion of private participation to supply 140,000 public housing units. He also instructed related ministries including the Ministry of Economy and Finance, Ministry of the Interior and Safety, and Financial Services Commission to "break down departmental barriers and boldly pursue regulatory reforms."

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