Yoon Transition Team to Begin Real Estate Review with 'Reconstruction'

Activating Supply Through Private Participation Contradicts Moon Administration's Policy... Industry and Finance Also Announce 'Regulatory Easing'

[Asia Economy Reporter Baek Kyunghwan] The Presidential Transition Committee (PTC) is reportedly set to first review the current administration's regulations on reconstruction as part of its efforts to 'normalize the real estate market.' President-elect Yoon Seok-yeol has repeatedly stated that he will ease regulations related to reconstruction and redevelopment to activate private housing supply, so real estate supply and deregulation policies are expected to take shape soon.

According to a key PTC official on the 21st, the Economic Subcommittee 2, which is in charge of real estate policy, will prioritize receiving reports on Seoul City's reconstruction regulation easing policies during the upcoming departmental briefings starting this week. Based on this, supply measures will also be prepared.

The reason the PTC has chosen 'deregulation' as the core keyword for the first briefing is to signal its intention to loosen regulations and encourage private sector participation. This approach is a direct reversal from the Moon Jae-in administration's real estate policy, which focused more on regulations than supply and ultimately failed. The aim is to send a signal to the market early in the administration that 'the private sector will deliver a substantial volume of supply.'

Deregulation is expected to be a key agenda across all subcommittees within the PTC. President-elect Yoon has indicated plans to ease regulations not only in real estate but also in various sectors such as industry, finance, and society. The departmental briefings, which will intensify around the 23rd, are also expected to involve reviewing existing regulations imposed by the current government and working on their removal.

On the first day of the PTC's full-scale activities, Chairman Ahn Cheol-soo held a plenary meeting in the morning to review overall schedules, including departmental briefings and subcommittee activity plans. Chairman Ahn emphasized the mission by stating, "The PTC is the vanguard of the new government," urging members to work with a strong sense of responsibility. He added, "While preparing for the new government's launch, please also pay attention to current issues and discuss solutions," and noted, "It is also the responsibility of each subcommittee member to quickly decide what to request cooperation from the current government and what to handle within the PTC."