The government is preparing to announce additional supply measures by the end of the year, and Minister of Land, Infrastructure, and Transport, Kim Yoon-duk, stated that they are considering previously announced sites and the possibility of lifting green belt restrictions. On November 20, at the inauguration ceremony of the joint housing supply task force between the Ministry of Land, Infrastructure, and Transport and Korea Land & Housing Corporation (LH), Minister Kim mentioned that areas previously considered but unsuccessful are being revisited as potential supply candidates.
As a result, sites like Taereung CC in Nowon-gu, Seoul, which were earmarked for housing supply during the Moon Jae-in administration, may be included again in the supply measures. In 2020, the Ministry of Land, Infrastructure, and Transport had announced plans to build 33,000 houses on over 20 public lands by 2028, but most of these plans fell through due to opposition from related institutions and residents.
Minister Kim pointed out that some announcements from the previous administration lost market trust due to insufficient preparation. He emphasized that thorough investigation and consultation would precede the announcement of candidate sites.
Regarding the possibility of an announcement within the year, Minister Kim stated, “We aim to announce within the year, but precise timing is hard to pinpoint due to the need for practical investigation and analysis. However, our goal is to announce this year.”
In response to reported disagreements with the Seoul Metropolitan Government regarding housing supply methods, Minister Kim revealed that they are positively reviewing over 80-90% of the 18 proposals from the Seoul Government. He assured that both the Ministry and the Seoul Metropolitan Government would collaborate to ensure the public remains free from worry. Additionally, Minister Kim indicated positive expectations from ongoing discussions with the Seoul Government about increasing housing supply in major projects like the Yongsan International Business District.
Minister Kim also stressed the need to quickly appoint key figures such as the first vice minister and the LH president, as they are important variables in housing supply. He mentioned that the appointment process is currently underway.