Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance (right), and Kim Hyun-mi, Minister of Land, Infrastructure and Transport, are talking at the ruling party-government meeting on expanding housing supply measures to stabilize the real estate market held on the 4th at the National Assembly Members' Office Building in Yeouido, Seoul. [Image source=Yonhap News]
[Asia Economy Reporter Kwangho Lee] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki stated on the 4th, "The Taereung Golf Course will be considered as a housing supply site, but other greenbelt areas will not be selected as targets based on the principle of preserving them for future generations."
Deputy Prime Minister Hong made these remarks during his opening speech at the government-wide task force (TF) meeting on expanding housing supply held at the Government Seoul Office on the same day.
The government plans to announce measures to expand housing supply at 10:30 a.m., immediately following the TF meeting.
Hong Nam-ki mentioned, "When establishing this supply plan, the government reviewed all available means and options from a zero-based perspective to secure the maximum possible housing supply volume."
He also explained, "Along with the quantitative expansion of housing supply, we considered balancing the content of that supply as much as possible, including general sales, public sales for the homeless and youth, and both short- and long-term rentals."
Deputy Prime Minister Hong emphasized, "The reason why related ministries and local governments were able to work together to prepare these measures is based on the urgent recognition that we must alleviate the housing insecurity and sense of deprivation felt by hardworking citizens due to recent housing price increases. The government's determination to stabilize the real estate market is very firm, and this will be maintained without wavering or hesitation in the future."
He added, "Going forward, through the implementation of strong measures, we will strive for absolute stability in the real estate market and make thorough efforts to eradicate market disruption through strict market inspections."
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