Sixteen Ministries' Ministers and Vice-Ministers to Meet Biweekly to Coordinate Housing Supply Measures... Consultative Body Launched

First Housing Supply Ministers' Meeting Held
"Swift Coordination of Differences... Strengthening Execution Capability"

Koo Yoon-chul, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, stated on the 14th, "Since ministries have had differing positions, it has been difficult to supply housing, but we will directly discuss these issues at the minister and vice-minister level to swiftly coordinate any disagreements."

Deputy Prime Minister Koo made these remarks while presiding over the first 'Housing Supply Promotion Ministers' Meeting' at the Government Seoul Office on this day. He added, "With the participation of all relevant ministries, the execution capability for housing supply will be greatly strengthened." During the meeting, participants discussed the operating plan for the Housing Supply Promotion Ministers' Meeting, housing market trends, and requests for cooperation.

Koo Yoon-chul, Deputy Prime Minister for Economy and Minister of Economy and Finance, attends and speaks at the Economic Ministers' Meeting, Price Ministers' Meeting, and Industrial Competitiveness Enhancement Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul on November 4, 2025. Photo by Jo Yongjun

The consultative body was established to accelerate the pace of housing supply in the Seoul metropolitan area and surrounding regions. Sixteen ministries, including the Ministry of Economy and Finance and the Ministry of Land, Infrastructure and Transport, participated. Going forward, ministers and vice-ministers from each ministry will meet every other week, while subcommittee meetings will be held as needed to check on the implementation status of housing supply measures and review areas for improvement. The consultative body is designed to comprehensively manage the overall supply situation, including adjusting contentious issues.

On this day, Deputy Prime Minister Koo conveyed requests for cooperation to each major ministry. He emphasized that by discussing matters among ministries, they would quickly develop concrete supply plans and achieve visible results. Minister of Land, Infrastructure and Transport Kim Yoon-deok noted that while signs of market overheating have somewhat subsided, it is too early to be complacent, and pledged to swiftly implement the housing supply expansion measures announced last September.

Minister Kim stated, "In the past, during downturns, demand-side pressures existed due to the easing of real estate regulations and the inflow of liquidity into the market. Since 2022, however, the supply base has weakened due to high interest rates, rising construction costs, and the deterioration of project financing. Given that the 10·15 measures were implemented to respond to the spread of market overheating and that the public has endured significant inconvenience to secure this time, it is necessary for all ministries to mobilize their capabilities and resources as quickly as possible to realize the effects of increased supply."

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