[Asia Economy Reporter Park Cheol-eung] Park Jumin, a member of the Democratic Party of Korea, argued that plans to supply public housing should be considered for the planned site of Yongsan Park.
On the 28th, at the Democratic Party policy coordination meeting, Park stated, "We should start discussing a bold plan to build public housing on part of the planned site of Yongsan Park in downtown Seoul." He made this remark emphasizing the need to restore trust in supply to solve real estate issues.
He said, "A bold supply that exceeds market expectations is necessary," adding, "Strong supply measures will help reduce the anxiety of the homeless even slightly and enable price stabilization."
Additionally, Floor Leader Yoon Ho-jung referred to the start of the 3rd new town subscription the previous day, saying, "Since there are many claims that the recent rise in housing prices is due to supply shortages, the party and government will make every effort to ensure the smooth implementation of existing housing supply plans. We will carry out policies with a Hosiu-bo (looking sharply and fiercely like a tiger and acting cautiously like an ox) attitude to stabilize the real estate market."
The proposal to supply housing on the planned site of Yongsan Park was first made by Kang Byung-won, a senior member of the Democratic Party, in May. Later, Lee Kwang-jae, a former presidential candidate, took up the idea and suggested creating a complex residential district. The proposal included forming a residential community equipped with functions such as workplaces, education, childcare, health, and culture.
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