During a meeting of real estate ministers and housing supply promotion ministers at the Government Seoul Building, Koo noted that while the rate of increase in apartment prices in Seoul has slowed, the government will continue to monitor the market closely until a clear stabilization is observed, maintaining a strict policy response.
He emphasized that the top priority of government policy is to expand housing supply and accelerate construction, stating, "We are thoroughly managing the entire process to ensure that the supply plan announced on January 29 leads swiftly to actual construction."
Koo pledged to eliminate obstacles in housing projects to facilitate rapid construction, expressing concern that approximately 100,000 housing units in the metropolitan area are facing delays of over a year due to issues with project financing, material supply, and rising construction costs.
To address these delays, he mentioned that the government will closely inspect the causes of construction delays and provide comprehensive support to resolve issues. He announced the launch of a "Government-wide Housing Supply Field Support Center" today, which will involve the Ministry of Land, Infrastructure and Transport and other relevant agencies and local governments.
Regarding public sector housing supply, Koo stated that the management of public housing project procedures will be strengthened. He pointed out that uncertainties in compensation and site development have led to delays in housing permits, resulting in increased project timelines and costs.
The government will shift its housing supply targets to be based on construction starts and will also manage construction costs based on the start date. Koo assured that the causes of delays in projects such as Namyangju Wangsil, Goyang Changneung, and Seongnam Bokjeong Second District will be thoroughly examined to prevent disruptions.
Emphasizing the need to combat illegal real estate activities, he stated that the Ministry of Land is intensively investigating suspected speculative transactions near new housing supply sites included in the January 29 supply plan. Additionally, a comprehensive investigation and verification of suspicious cases of fraudulent applications involving 25,000 units across 43 complexes in regulated areas of the metropolitan area is underway.
Koo concluded by stating that spreading false information related to development data and real estate prices is a serious illegal act, and the government will enhance the effectiveness of responses to misinformation through revised real estate transaction reporting laws.
* This article has been translated by AI.
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