Korea Land Nominee Pledges Rapid Housing Supply Boost

Hong Jee-sun, nominee for land, infrastructure and transport minister, stated he will use every available resource to speed up housing delivery. He aims to stabilize the market where prices are rising sharply. The nominee made these comments during a parliamentary confirmation hearing. Public concern over high home prices in the Seoul metropolitan area is growing.

The nominee said he will engage both public and private sectors to increase supply. He wants to ensure enough homes in areas with high demand. Hong Jee-sun emphasized resolving on-the-ground obstacles. He identified delays in permits and approvals as key barriers to policy implementation.

Targeted Support for Vulnerable Groups

The nominee pledged stronger housing support for young people and newlyweds. He also committed to protecting vulnerable groups. This includes senior citizens and victims of rental deposit fraud. These measures aim to address specific market vulnerabilities.

Regional Development as National Priority

Hong described balanced regional development as a matter of national survival. The government will support large-scale projects outside the capital region. These projects aim to create advanced industrial hubs. This strategy seeks to reduce pressure on the Seoul metropolitan housing market.

Market Context from Data Sources

GN auto markets/housing: housing prices data reflects the rising costs driving this policy response. The nominee’s proposals focus on supply-side interventions. He intends to use his local government experience to improve execution. The goal is a stable and accessible housing market.