Noh Hyung-wook "Apologies for Criticism on Sejong Apartment Special Supply... Fully Committed to Housing Stability for Ordinary People"

Nomhyunguk Minister of Land, Infrastructure and Transport Nominee Confirmation Hearing

Nominee for Minister of Land, Infrastructure and Transport, Noh Hyung-wook, is taking an oath at the confirmation hearing held by the Land, Infrastructure and Transport Committee at the National Assembly in Yeouido, Seoul, on the morning of the 4th. [Image source=Yonhap News]

[Asia Economy Reporter Moon Jiwon] Nominee for Minister of Land, Infrastructure and Transport, Noh Hyung-wook, repeatedly bowed his head on the 4th regarding the controversy over 'gap investment in Sejong City apartments.' He also stated that if appointed as the Minister of Land, Infrastructure and Transport, he would "do his utmost to stabilize housing for the common people."

In his opening remarks at the confirmation hearing held at the National Assembly that day, Nominee Noh said, "Regarding the special supply of apartments in Sejong City, I accept the criticisms with a heavy heart," adding, "Regardless of the reasons, I sincerely apologize and reflect on my failure to act thoughtfully in accordance with the public’s expectations as a public official."

He was previously involved in a controversy over 'gap investment' after receiving a special supply of an apartment in Sejong City but not residing there and instead selling it for a capital gain. Nominee Noh did not mention separately in his opening remarks the allegations concerning his wife’s past theft record and his second son’s suspected fraudulent receipt of unemployment benefits.

Nominee Noh emphasized, "I believe the current housing market is at a critical juncture for stabilization," and said, "To prevent the market from becoming unstable again, it is important to secure market trust through expanding housing supply." He added, "I will work closely with the National Assembly, local governments, and others to ensure sufficient housing supply within urban areas without delay."

Regarding the allegations of land speculation by employees of Korea Land and Housing Corporation (LH) in new towns, he explained, "We will vigorously implement measures to eradicate real estate speculation and prevent recurrence," and "We will promptly prepare fundamental innovation plans together with related ministries."

He continued, "We will strive to restore the housing ladder and establish a dense housing safety net so that young people and vulnerable groups do not lose hope of owning a home," and said, "Balanced national development where local areas and the metropolitan area coexist is also important."

Based on his experience promoting the three major projects to protect citizens’ lives as the Director of the Office for Government Policy Coordination, he emphasized his commitment to reducing deaths caused by construction site accidents and traffic accidents.

Regarding the expansion of transportation infrastructure, which is of great public interest, he said, "We will timely expand metropolitan transportation networks such as metropolitan railways and transfer facilities to make commuting convenient for the public, and we will steadily develop regional new airports and arterial road networks to strengthen interregional connectivity."

Nominee Noh stated, "The most important values I want to prioritize while performing my duties are openness and communication," adding, "With humility and a low profile, I will listen to the voices of the people and continuously communicate with related ministries, the National Assembly, local governments, and experts."