The leadership of the People Power Party and Seoul Mayor Oh Sehun visited a reconstruction site in Sanggye-dong on the 24th, intensifying their campaign to sway public opinion by criticizing the Lee Jaemyung administration's 10·15 real estate policy. They also responded to calls urging the Seoul Metropolitan Government to expedite architectural reviews.

Jang Donghyuk, leader of the People Power Party and chair of the Special Committee for Normalizing Real Estate Policy, along with Mayor Oh, visited the Sanggye 5 Redevelopment Promotion Zone in Nowon-gu, Seoul, on the morning of October 24 to listen to local residents. Nowon has been designated as a land transaction permission zone under the 10·15 measures, raising concerns that redevelopment projects may face setbacks.

Jang Donghyuk stated, "Just as we were about to open the door and step inside, the government announced its housing market stabilization measures, which upended everything inside the house, forcing us to spend even more time putting things back in order." He promised, "The party and the Seoul Metropolitan Government will work together to ensure the project can move forward at a faster pace."

Jang Donghyuk, leader of the People Power Party, is holding a meeting with residents after visiting the Sanggye 5 Redevelopment Promotion Zone in Nowon-gu, Seoul on the 24th. Photo by Kang Jinhyung

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He added, "The 10·15 policy not only fails to stabilize housing prices but also crushes the dreams of those who simply wish to own a home and live a decent life. Although we are a minority opposition party, we will focus all our efforts on repealing these real estate policies."

Mayor Oh addressed residents’ concerns about delays in the redevelopment project, saying, "From now on, the process will inevitably pick up speed. Please do not worry," and pledged, "The Seoul Metropolitan Government will expedite the approval process." Regarding the impact of the government's 10·15 real estate measures on the public, he explained, "Some residents will need to take out bank loans to pay their share of the costs, but the new policy imposes lending restrictions. This means the real problem is not the city’s approval process, but rather the obstacles created for your cooperation moving forward."

Responding to a resident's request to "sincerely consider the poor living conditions," Mayor Oh said, "I grew up in Samyang-dong, not far from here, in even more difficult circumstances. I know all too well what it means to live in such conditions and remember it vividly." He continued, "While following administrative procedures may be frustrating, Seoul city officials have worked tirelessly to reduce the redevelopment period from 18 years and 6 months to 12 years. We will do our utmost to swiftly improve these challenging living conditions."

The People Power Party’s Special Committee for Normalizing Real Estate Policy will continue its on-site visits to gather opinions from experts and various groups, including the 2030 generation. They also plan to hold meetings with young people, newlyweds, and leaders of redevelopment and reconstruction associations.