Cho Kuk: "Possible to Supply 60,000 Public Rental Units Using Seoul Airport Site"

Proposes Real Estate Reform Initiatives at New Year’s Press Conference
Mentions Plans for Supplying Public Rental Housing Using Public Land

Cho Kuk, leader of the Innovation Party, stated that the party should use both the real estate reform initiative and the Democratic Party’s nomination fund scandal as an opportunity for bold political reform.

Cho Kuk, leader of the Innovation Party, is speaking at the New Year's press conference held at the National Assembly Members' Office Building on the 4th. Photo by Yonhap News

At a press conference held at the National Assembly on January 4, Cho said, "The fundamental problem facing South Korea is real estate. Solving real estate issues will address inequality, transform the economic structure, and enhance growth potential."

He went on to say, "The 'I'll lend you money, buy a house' policy looks like a ladder, but in reality, it's a slide." As solutions, he proposed supplying 120,000 units of high-quality public rental housing, establishing a Land and Housing Bank, and enacting three new laws on the public concept of land ownership.

Cho presented a plan to supply public rental housing by utilizing major public sites in the Seoul metropolitan area. This includes Yongsan Park, the legal district in Seocho-gu where the Supreme Court and Supreme Prosecutors' Office are located, as well as the Seoul Regional Procurement Service, Taereung Golf Course, Korea Military Academy, and the Western Driver's License Test Center.

He argued that approximately 60,000 units of public rental housing could be supplied by utilizing the Seoul Airport site.

He stated, "If the Seoul Airport site is utilized, it will be possible to create the most advanced residential complex and public infrastructure in South Korea, connecting the Gangnam-Songpa-Pangyo belt with the Wirye-Seongnam belt." He added that more detailed plans would be announced later.

Regarding the Democratic Party’s alleged acceptance of nomination funds during the 2022 local elections, Cho said, "This could become a burden on the President’s administration. It is a serious situation that could damage the engine of reform." He urged the Democratic Party to "thoroughly clean up without leaving even a speck of dust."

He further pointed out that the essence of this incident is not the need to reform the Democratic Party’s nomination system, but rather "the structural problems of Korean politics and the electoral system." He emphasized, "This is the time to carry out the political reforms the people want, and to root out money-based and connection-based nominations."

Cho argued that it is necessary to expand the multi-member constituency system to three or more members and to implement the reform agreement among the five parties, which includes easing requirements for negotiating blocs in the National Assembly. He added, "The Innovation Party will not hesitate to push forward with progressive reform tasks that the Democratic Party and the Lee Jaemyung administration are reluctant to pursue."