Won Hee-ryong: "I will not take an arrogant and unrealistic approach to dominate the market"

Won Hee-ryong, Minister of Land, Infrastructure and Transport Nominee

On the 11th, Won Hee-ryong, the nominee for Minister of Land, Infrastructure and Transport, emphasized a "cautious approach to avoid stimulating housing prices," which is interpreted as a response to concerns that the real estate market has started to stir amid expectations of deregulation by the new government. While he plans to address some excessive regulations that caused market distortions under the current administration, he intends to approach this "realistically" so as not to stimulate housing prices.

That morning, as he arrived at the hearing preparation office set up at the Government Complex Gwacheon, he told reporters, "I will not take an arrogant and unrealistic approach that claims to control housing prices at once or suppress the market with a few policies." Regarding supply, he expressed plans to provide housing that matches the residential demand of actual users in a predictable manner, rather than vague "supply bombs."

However, since the current government’s policies must be addressed in some way, the greatest ability required of nominee Won is expected to be "political skill." The fact that he, who has never been mentioned as a candidate for the Minister of Land, Infrastructure and Transport before, is now leading the "real estate policy" that holds the fate of the new government can be interpreted in this context. Won is evaluated as having experience in the student activist movement during his university days and being able to communicate well with the 586 generation within the Democratic Party. Regarding his appointment background, Won self-assessed on this day, "I believe I was brought in as an expert in communication with the public and political coordination."

From this perspective, the ministerial nominee’s unusual 15-minute interview on his first day at work seems to reflect his sense of the need to send a "clear message to the market." He warned, "It is a big misconception to think that local high-priced housing will surge due to deregulation bombs such as reconstruction and redevelopment, and that one can enjoy development and speculative profits." He added, "I will be very cautious about parts that could be misused as wrong signals, and I will finely adjust deregulation in a way that can be managed and controlled." On the supply side, he said, "The government’s philosophy is that supply should match the demand according to the economic capacity that actual users can bear." He emphasized, "We will focus not only on the total quantity as a number but also on the customized composition of demand and proceed with predictable supply."

Regarding the Three Lease Laws, he placed emphasis on revision rather than abolition. He said about the laws, "They were established with good intentions to protect the housing rights of tenants, who are vulnerable in housing," and added, "Protecting tenants and housing stability for the vulnerable is the reason for the existence of the state." He also noted, "There are parts that fall short of intentions and expectations and some side effects, but the majority of tenants and lessees whom the state wants to protect are absolute." Nominee Won is a representative figure who has criticized the current government’s real estate policies. President-elect Yoon Seok-youl has frequently highlighted problems with the Three Lease Laws among the current administration’s policies. In this situation, attributing meaning to the positive intent of these laws can be seen as an expression of the will to stabilize the real estate market through the message that "there will be no major changes."