[Special Committee on Housing Welfare of the Democratic Party Evaluates One Year of Lee Administration's Real Estate Policies: "Policy Consistency Is Crucial"]

by Ji Hyejin

Published 23 Apr.2026 18:42(KST)

The Special Committee on Housing Welfare of the Democratic Party of Korea emphasized on April 23, "For real estate policies to succeed, they must earn the trust of the market. To secure this trust, policy consistency and predictability are essential."

Lee Yeonhee, chairperson of the Special Committee, held a forum at the National Assembly Members' Office Building on this day to assess the first year of the Lee Jaemyung administration's housing and real estate policies and discuss future tasks. She stated, "The biggest enemy of policy is 'frequently changing policies,'" reinforcing her point.

Lee Yeonhee, Member of the Democratic Party. Yonhap News Agency

Assemblywoman Lee said, "The Lee Jaemyung administration will definitely adhere to this principle," adding, "We will expand opportunities for homeownership for those without homes and for low-income citizens by normalizing the real estate market and ensuring housing stability." She further emphasized, "To this end, we will swiftly and thoroughly implement previously announced measures, such as supplying a total of 1.35 million homes in the Seoul metropolitan area over the next five years, and will simultaneously pursue tax and financial measures."

Maeng Sungkyu, chairperson of the National Assembly's Land, Infrastructure and Transport Committee, commented that over the past year, the government "implemented household loan management measures such as limiting mortgage loan amounts in the Seoul metropolitan area and banning loans for multiple homeowners, as well as established plans to supply 60,000 units using idle urban sites, thereby laying the foundation for public-led housing supply."

However, Chairman Maeng also noted, "Recently, the rate of increase in Seoul apartment prices has reached its highest level in 19 years, and the wealth gap between regions is widening further. Alongside a sharp decline in non-apartment housing supply, the volume of private sector housing permits has dropped to less than half that of the past." He emphasized, "Now, housing supply must result in tangible outcomes that the public can feel."

Byun Changheum, former Minister of Land, Infrastructure and Transport, who served as a presenter at the event, mentioned the need for an 'inclusive housing supply policy.' He argued that the supply structure should be reorganized to meet the demand of one- and two-person households by providing more multi-household and multi-family homes, rental officetels, and urban-type small residential units.

Former Minister Byun stressed the need for: ▲ developing mid-rise, high-density Seoul-style housing renewal models ▲ mixed-use development of station areas and supply of youth platform housing ▲ integrated mixed-use development of relocation complexes in quasi-industrial areas ▲ revitalization of urban regeneration innovation zones and residential regeneration innovation districts.

He also suggested developing housing types tailored to Millennials & Gen Z and enacting an integrated station area basic act that would provide comprehensive regulations on the scope of station areas, special provisions, public contributions, and land acquisition.

When necessary, he recommended promoting balanced urban development by redeveloping city centers following the release of quasi-industrial zones. In addition, he proposed designating innovation districts within urban regeneration activation zones and introducing incentives to improve business feasibility.

Lee Gwangsoo, CEO of Gwangsoone Real Estate Agency, who participated in the discussion, said, "Since February this year, there have been real changes in the market following the President's remarks on real estate and the end of the temporary suspension of increased capital gains tax for multiple homeowners." He argued, however, that "what is needed is not a one-off measure, but consistent policy."