Noh Hyung-wook, Nominee for Minister of Land, Infrastructure and Transport: "Reconstruction Is Not a Choice Between Public and Private... Compromise Is Possible"

"National Housing Stability and Speculation Eradication, Top Priorities"
"Dialogue and Communication with Local Governments Regarding Official Price Controversy"

Nominee for Minister of Land, Infrastructure and Transport, Noh Hyung-wook, is answering reporters' questions as he arrives at the confirmation hearing preparation office set up at the Seoul Regional Land Management Office in the Gwacheon Government Complex, Gyeonggi Province, on the morning of the 19th.

[Asia Economy Reporter Kangwook Cho] Roh Hyung-wook, the nominee for Minister of Land, Infrastructure and Transport, indicated that he will seek a compromise between public and private sector leadership regarding the relaxation of reconstruction regulations. He also stated that he will establish a reasonable plan through communication concerning the controversial issue of official property price assessments, which has become a "hot potato."

On the morning of the 19th, as he arrived at the hearing preparation office set up at the Seoul Regional Land Management Office in the Government Complex Gwacheon, Roh told reporters, "If given the opportunity to serve as minister, I will prioritize two main tasks: ensuring housing stability for the people and eradicating real estate speculation."

Regarding the demand by five local government heads from the People Power Party, including Seoul Mayor Oh Se-hoon, to freeze official property prices, he said, "I believe both ruling and opposition local governments share the same stance that the real estate market must be stable and free from speculation," adding, "I will seek reasonable solutions through sufficient dialogue and communication going forward."

On the private reconstruction regulation relaxation proposed as a campaign pledge by Mayor Oh, he responded, "I do not see it as a matter of choosing between public-led or private-led initiatives," and added, "The government's 2·4 supply plan embodies a spirit of 'win-win' to overcome the limitations of existing measures. If approached sincerely and from the public's perspective, a good compromise can be reached."

When asked whether the housing supply plans announced by the government, including the 2·4 supply plan, will proceed without issues, he avoided a direct answer, saying, "It would be better to discuss this during the hearing."

In response to concerns about his lack of expertise in real estate policy given his background in the Ministry of Strategy and Finance, Roh said, "While coordinating policies at the Office for Government Policy Coordination, I have gained a certain level of understanding of the Ministry of Land, Infrastructure and Transport's policies, including real estate issues," and added, "I am aware of concerns regarding the practical aspects of real estate policy, but I will make efforts and listen to advice to resolve issues rationally."

He further stated, "Real estate policy is not a task that the Ministry of Land, Infrastructure and Transport can solve alone, so I will closely communicate and cooperate with relevant government ministries, local governments, and the National Assembly."

Roh also emphasized, "The Ministry of Land, Infrastructure and Transport has many responsibilities beyond real estate," adding, "I will ensure no neglect in areas such as balanced national development, preparation for the Fourth Industrial Revolution, innovation in the land and transportation sectors for the post-COVID-19 era, enhancement of safe and convenient living environments, and improvement of transportation services."

Following Minister Byun Chang-heum on the 16th, Roh Hyung-wook, nominated as the next Minister of Land, Infrastructure and Transport, began full-scale hearing preparations by receiving briefings on current issues from ministry officials at the Gwacheon office starting that day.