"Follow-up Housing Supply Measures Must Accelerate," Says Vice Minister of Land at Review Meeting

Vice Minister Kim Reviews Implementation Plans for Key Tasks

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport, presided over the 3rd Housing Market and Supply Measures Review Meeting on January 5. This consultative body, which convenes biweekly, aims to monitor the proper implementation of follow-up measures to the previously announced September 7 Housing Supply Expansion Plan. Attendees included senior officials from the Ministry of Land, Infrastructure and Transport, such as the Director General for Housing and Land, the Head of the Housing Supply Promotion Headquarters, and the heads of relevant departments.

As this was the first meeting of the year, the ministry reported that they discussed implementation plans for each key task. Vice Minister Kim stated, "With the establishment of the Housing Supply Promotion Headquarters, the government's ability to execute supply measures has been strengthened. Therefore, we must swiftly implement the follow-up actions to the September 7 plan."

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport, is speaking at the countermeasure meeting held at the Government Complex Sejong on the 5th. Provided by the Ministry of Land, Infrastructure and Transport

For tasks such as shifting to direct implementation by Korea Land and Housing Corporation (LH), converting non-residential land for residential use, and accelerating the development of public housing sites, the meeting reviewed quarterly implementation plans. Vice Minister Kim emphasized, "Direct implementation by LH and the conversion of non-residential land are critical tasks that will change the paradigm of public housing supply, so please ensure thorough execution."

Regarding the acceleration of public housing site development, he instructed, "Let us arrange discussions with relevant agencies to find ways to address on-site challenges related to procedures outside the ministry's jurisdiction, such as cultural heritage surveys."

For four urban supply-related tasks, he encouraged the Housing Supply Promotion Headquarters to take the lead in expediting supply. These tasks include the complete reconstruction of aging public rental housing, redevelopment and mixed-use development of old public office buildings, the second phase of public urban complex projects, and revitalization of small-scale housing redevelopment. He noted that a special law for mixed-use development of old office buildings was proposed at the end of last year and urged active identification of candidate sites for these projects.

Vice Minister Kim remarked, "Newly built purchase-based rental housing and public-supported private rentals have relatively short construction periods, so they are tasks that can deliver immediate visible supply effects. At every stage of project implementation, we must proactively inform the public of our progress."

Regarding private supply volumes such as redevelopment projects, he requested ongoing communication with the industry and experts to ensure that the number of housing starts exceeds the government's initial estimates.