Oh Sehoon: "It's Time to Respond with Supply, Not Dividing Gangnam and Gangbuk or Strengthening Regulations"

Criticizes Chairman Cho Kuk: "Does Not Understand the Principles of the Housing Market"
"No Distinction Between Gangnam and Gangbuk in Housing Supply and Deregulation"

Seoul Mayor Oh Sehoon emphasized that, in response to concerns that the city's deregulation and policies to revitalize reconstruction are fueling rising housing prices, "It is now time to respond with supply, not by dividing Gangnam and Gangbuk, blaming others, or strengthening regulations."

Seoul Mayor Oh Se-hoon is holding a meeting with residents at Eunma Apartment in Daechi-dong, Gangnam-gu, Seoul, where the reconstruction maintenance plan amendment was approved on the morning of the 13th. 2025.10.13 Photo by Kang Jin-hyung

On the 13th, through Facebook, Mayor Oh targeted Cho Kuk, the emergency committee chairman of the Cho Kuk Innovation Party, criticizing, "There is someone else who started the fire, but now they are blaming the one trying to put it out. It is frustrating to see people who do not understand the principles of the housing market trying to give advice."

He stated, "During the previous Moon Jae-in administration and the former mayor's term, more than 280,000 housing units in about 330 areas could not be supplied to Seoul due to the cancellation and withdrawal of reconstruction and redevelopment projects. The resulting 'supply cliff' is now reflected in current housing prices." He added, "The perception that 'housing prices rise when the Democratic Party is in power' has also contributed to today's overheated market. Chairman Cho seems to have forgotten the policy failures of the government he served in, but the market remembers."

Mayor Oh explained that, since taking office, he introduced the 'Shintong Planning' initiative to quickly supply housing where citizens want, encompassing both Gangnam and Gangbuk.

He said, "Gangbuk is now at the starting point of a dramatic transformation. In September, the Mia 2 District restarted its reconstruction project for 4,000 units, and Baeksa Village in Nowon-gu began full-scale redevelopment after 16 years of designation. In Changsin and Sungin-dong, Jongno-gu, where housing development was blocked by the previous mayor's suspension of the New Town project, the Shintong Planning initiative will transform the area into a new residential complex with 6,400 units."

Mayor Oh stated, "There is no distinction between Gangnam and Gangbuk when it comes to housing supply and deregulation. Seoul's only principle is to supply as much as needed, wherever citizens want."

He stressed the need to stabilize the market by expanding supply through revitalizing private sector maintenance projects.

Mayor Oh explained, "If you fight the market, housing prices rise; if you support the market, the housing ladder is restored. Do not try to defeat the market-instead, utilize the private sector and the market. By easing regulations and revitalizing reconstruction and redevelopment, we must dramatically increase supply. This is the way to calm the overheated market and to restore the 'right to dream of owning a home' to young people."