Agreement Reached on Expedited Passage of the Special Act for Renewable Energy Self-Sufficient Cities
Park Soohyun, Senior Spokesperson of the Democratic Party of Korea, announced on December 21 that the government has nearly completed consultations with local government heads regarding the housing supply measures, which have been promoted as a follow-up to the October 15 Real Estate Policy.
Park Soohyun, Senior Spokesperson of the Democratic Party of Korea, is speaking on political issues at a press conference held at the National Assembly on the 21st. Photo by Yonhap News.
During a briefing on the outcomes of the 5th High-Level Party-Government Council held at the Prime Minister's official residence in Samcheong-dong, Jongno-gu, Seoul, Park stated, "(Minister of Land, Infrastructure and Transport Kim Yoonduk) has mentioned at a National Assembly standing committee that the announcement of the real estate supply measures may be postponed to January next year," adding, "I will consider that response as the answer" regarding the timing for the announcement of the real estate supply plan.
Regarding the reason for the delay in the announcement, which was initially expected by the end of the year, Park explained, "We have made significant progress on areas that require consultation and agreement with local government heads," and added, "We are currently working on the remaining parts that have not yet been finalized."
He continued, "Although the short-term overheating of housing prices in Seoul and the metropolitan area has somewhat subsided since the announcement of the October 15 measures, there is still considerable upward pressure on prices due to persistent supply shortages and inflows of liquidity," adding, "(The party and the government) have agreed to remain vigilant and closely monitor the market situation."
Park also stated, "The party has requested the government to make every effort to stabilize the housing market," and added, "The government has pledged to swiftly and concretely develop supply plans so that the public can have confidence in stable supply, and to do its utmost in managing housing demand, including household loans."
Additionally, the party and the government agreed to promptly process the special law for renewable energy self-sufficient cities, which has been proposed to establish 'RE100 (100% renewable energy use) industrial complexes,' and to officially begin the creation of such complexes after the law's enactment.
To this end, the party will support the swift enactment of the special law, and the government will thoroughly prepare by reviewing subordinate regulations and refining investment incentives for companies, so that the project can commence quickly after the law is passed.
Plans for restructuring the petrochemical and steel industries were also discussed. Regarding the steel industry, the government will concretize reduction plans, focusing on the rebar sector, in line with industrial advancement strategies.
In the case of the petrochemical industry, Park reported that, according to the government's 'Petrochemical Industry Revitalization Roadmap,' companies in three industrial complexes (Yeosu, Daesan, and Ulsan) have submitted business restructuring plans.
Going forward, the government will review the final restructuring plans of these companies to determine whether to approve them, and will announce support packages for each project.
The party requested the government to implement measures to minimize the impact of industrial restructuring on local economies, and the government decided to expand next year's industrial crisis support program to 24.7 billion won. Park also noted that discussions regarding Homeplus, which is undergoing corporate rehabilitation procedures, did not take place at the party-government council on that day.
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