Won Hee-ryong: "Careful Not to Stimulate Housing Prices... Ensuring Housing Stability for Low-Income and Middle-Class" (Comprehensive)

On the afternoon of the 10th, Won Hee-ryong, the nominee for Minister of Land, Infrastructure and Transport, attended a press conference held by the Presidential Transition Committee in Tongui-dong, Jongno-gu, Seoul, announcing the selection of ministerial candidates for eight ministries of the Yoon Suk-yeol administration, and responded to reporters' questions. Photo by Transition Committee Press Photographers Group

[Asia Economy reporters Kangwook Cho and Dongpyo Kim] Won Hee-ryong, the nominee for Minister of Land, Infrastructure and Transport, said on the 10th, "Policies that unnecessarily stimulate real estate prices will move in a very stability-focused and cautious direction."

After the personnel announcement held at the Presidential Transition Committee in Tongui-dong, Jongno-gu, Won said to reporters, "I consider it an honor to be nominated as the first Minister of Land, Infrastructure and Transport of the new government and feel a heavy sense of responsibility," expressing this view.

He added, "Due to many fragmented policies so far, trial and error and public anger and fatigue have accumulated. Rather than approaching it as if these problems can be solved all at once, I will try to stabilize various issues as much as possible while achieving harmony and balance overall."

Won also said, "There is no need to place too much binding meaning on the fragmented remarks made so far at the Transition Committee," and added, "I will listen to the voices of experts in various fields, stakeholders, and the public on site and work to bridge the gap with policies."

Regarding measures to stabilize housing prices, he responded, "Since not only supply and demand but also various macroeconomic factors such as finance work together, I will align with economic ministries and the macroeconomic flow."

In response to some criticisms that he was a 'surprise nominee' without expertise in land and real estate policies, Won expressed confidence, saying, "Rather, as a politician, I can resolutely solve the politically charged real estate issues."

At the press conference, Won stated, "I interpret this as a directive to connect the pain and expectations of the people well with experts in land, real estate, and transportation fields, and to play a comprehensive role with a political focus to realize the people's dreams and alleviate their suffering."

He also added, "As the nominee for Minister of Land, Infrastructure and Transport, the task that requires the government's full capacity is to stabilize housing for the lower and middle classes and enable the younger generation, who have lost their dreams, to have future aspirations."

In a meeting with reporters, Won reiterated, "President-elect Yoon has a very strong will regarding real estate policies that meet the people's expectations and balanced development of the land overall," and said, "The burden lies in how to politically realize that will, not in concerns about expertise."

He explained, "President-elect Yoon's request is to maintain a political stance that represents the entire people without being swayed by vested interests or partial concerns," adding, "The focus is on stabilizing housing for the lower and middle classes and forming future assets for the younger generation."

Later, through the Ministry of Land, Infrastructure and Transport's spokesperson office, Won released a separate statement saying, "I consider it an honor to be nominated as the first Minister of Land, Infrastructure and Transport of the new government and feel a heavy responsibility," and "I am well aware of the public's expectations for the new government and the Ministry."

He continued, "There will be an opportunity to discuss my convictions and detailed policy directions regarding the Ministry's current issues during the parliamentary confirmation hearing," and said, "During the preparation for the hearing, I will fully listen to the opinions of the public and experts and carefully consider and review the policy directions."

Regarding transportation issues, he stated, "I will also strive for fair regional accessibility, which is key to balanced development, improvement of the metropolitan transportation system, and innovation of future-oriented transportation systems."

Starting from the 11th, Won plans to begin working at the office set up in the Government Complex Gwacheon, preparing for the confirmation hearing together with Ministry executives. Additionally, as the current chairman of the Transition Committee's Planning Committee, he will continue to carry out planning committee activities concurrently.