[Asia Economy Reporter Lee Ji-eun] Park Hyung-jun, the preliminary candidate for mayor of Busan from the People Power Party, announced the 'Housing Ladder' policy on the 5th, which focuses on creating compact towns in the city center and renovating old housing.
On the same day, Park declared at the Busan City Council that he would implement housing policies based on three major principles, three directions, and three strategies to overcome the housing reality in Busan.
The three strategies are ▲ creating compact towns with mixed-use urban complexes ▲ supplying reasonably priced housing using public land ▲ renovating old houses and expanding the supply of apartments and low-rise terrace-style houses.
Preliminary candidate Park said, "Through these strategies and vision, we will raise the housing supply rate in the Busan area from 103% in 2018 to 110%, and develop the city center into a compact town where housing, commerce, and jobs coexist."
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