[2025 National Audit] Kim Dong-yeon: "Without Lee Jaemyung Administration's Real Estate Measures, Housing Prices Would Have Skyrocketed"

Kim Dong-yeon, Governor of Gyeonggi Province, described the three rounds of real estate measures announced by the Lee Jaemyung administration since its inauguration as "appropriate actions," stating, "If these measures had not been introduced, housing prices would have skyrocketed even more."

On the 20th, during the National Assembly Land, Infrastructure and Transport Committee's audit of Gyeonggi Province held at the Gyeonggi Provincial Government, Governor Kim responded to a question from Assemblyman Jeong Jeom-sik of the People Power Party regarding the current administration's real estate policies by saying, "In terms of the overheated housing market and rising (housing) prices, I assess these as timely and preemptive measures."

He added, "Real estate prices do not suddenly spike; there is a flow. Since there is a time lag in (housing) supply, I expect that the October 15 measures, together with the previous supply measures, will be effective in maintaining balance, curbing speculative demand, and preventing excessive inflow of liquidity."

Gyeonggi Province Governor Kim Dongyeon is taking an oath at the National Assembly audit on the 20th. Provided by Gyeonggi Province

In particular, he said, "If effective demand and liquidity continue to flow into the housing market as they are now, and if housing prices rise without any countermeasures, it will become even more difficult for young people and ordinary citizens to own homes. Even if the current measures are not perfect, I believe they will serve as a well-balanced painkiller suited to the present situation."

He further analyzed, "I expect these measures to have a significant effect in curbing the rise in housing prices. Without these policies, housing prices would have soared like a high rocket."

Regarding Gyeonggi Housing and Urban Corporation's (GH) plan to issue 700 billion won in corporate bonds, he explained, "GH is undertaking many projects, including housing supply. Since GH's debt ratio is being managed within the range set by laws and the Ministry of the Interior and Safety, we are planning to issue 700 billion won in corporate bonds to secure a business foundation."