Won Hee-ryong "Restore Market Function by Lifting Regulations... Firm Response to Speculation"

Opening Remarks at the Confirmation Hearing for the Minister of Land, Infrastructure and Transport Nominee

Won Hee-ryong, Chairman of the Planning Committee of the Presidential Transition Committee, is reporting on the activities of the Population and Future Strategy TF at the Transition Committee press conference hall in Tongui-dong, Jongno-gu, Seoul on May 1, 2022.

Won Hee-ryong, the nominee for Minister of Land, Infrastructure and Transport, stated on the 2nd, "We will boldly remove unreasonable regulations to restore market functions, but firmly respond to excessive speculation to reduce the asset gap."

At the confirmation hearing held at the National Assembly on the same day, Won said in his opening remarks, "We will focus all our efforts on stabilizing housing for the common people and the middle class by preventing sharp fluctuations in housing prices and expanding housing welfare."

Won added, "We will design policies precisely based on statistics and data and quickly supply housing that meets the needs of the people." He emphasized, "We will create a supply roadmap that is not limited to short-term supply but is tangible and predictable, restoring trust that good housing desired by the public will be continuously supplied."

Furthermore, Won said, "Strengthening housing welfare, another pillar of housing stability, is also necessary," and added, "We will build a robust housing safety net through expanding rental housing supply and customized support for demanders."

He also identified 'regional balanced development' as a key task, emphasizing, "It is necessary to provide equal opportunities to all regions and ensure balanced development so that people can fairly enjoy opportunities no matter where they live in the Republic of Korea." He stated, "To this end, we will establish a transportation system for fair accessibility, which is the core of balanced development, and create innovation growth hubs led by local regions and companies with support from the central government."