On August 13, the government announced its supply-focused 8.13 real estate policy, eliciting mixed reactions from both ruling and opposition parties. The ruling Democratic Party expressed commitment to swift legislative action and policy support, while the People Power Party criticized the measures as ineffective and called for regulatory reforms.
Han Byeong-do, acting leader of the Democratic Party and floor leader, stated during a policy coordination meeting at the National Assembly, "We will consolidate the capabilities of our committees to comprehensively coordinate supply, finance, taxation, and legislative tasks to ensure the government's measures are implemented without a hitch. We promise to create a housing market where the public can feel secure through prompt supply and support for genuine demand."
He further criticized the People Power Party, saying, "They are merely criticizing without reflecting on the supply shortcomings of the previous administration, and since becoming the opposition, they have obstructed every government policy aimed at promoting supply."
Following the announcement of the government measures, spokesperson Park Ji-hye stated in a written briefing, "We will eliminate barriers between committees and work closely with the government to swiftly advance effective real estate policies and related legislation," adding that efforts will focus on stabilizing the unstable rental market through short-term supply measures. Floor spokesperson Lee Joo-hee also emphasized to reporters, "We must hold a plenary session next week."
In contrast, the People Power Party harshly criticized the policy for lacking regulatory relief, labeling it as ineffective and a mere rehash of previous measures. They pointed out that the supply in downtown Seoul is limited to just 1,000 units, while the government touts a figure of 230,000 units in the metropolitan area as misleading. Concerns were also raised about the inadequacy of regulatory relief measures.
Chief spokesperson Choi Bo-yoon issued a statement condemning the policy as "misleading and ineffective," asserting, "Without the abolition of punitive regulations, true acceleration of supply is impossible. Promising to break ground in four to five years without regulatory reform is a hollow promise that completely ignores the urgent needs of the homeless and the market for effective supply."
Floor spokesperson Choi Soo-jin also commented, "This belated announcement is a rehash of policies that echo the failures of the Moon Jae-in administration," urging the government to acknowledge its failures in real estate policy and to initiate fundamental policy changes for effective supply and market trust restoration.
She added, "The reasons for the failure of the Lee Jae-myung administration's real estate policy are clear. The plan was misguided, attempting to increase supply through taxes without actual supply while tightening demand with loan regulations and designating triple-regulation zones. What the public needs is not just numbers in announcements but actual housing that can be occupied."
Earlier that day, the government announced a real estate supply plan that includes the release of at least 230,000 housing units in the metropolitan area through the lifting of development restrictions and prioritizing the supply of 27,000 units in areas such as Gangseo-gu in Seoul and Namyangju and Gwangju in Gyeonggi Province. The plan also includes the disclosure of an additional 73,000 hectares of new land by the end of the year.
Han Byeong-do, acting leader of the Democratic Party and floor leader, stated during a policy coordination meeting at the National Assembly, "We will consolidate the capabilities of our committees to comprehensively coordinate supply, finance, taxation, and legislative tasks to ensure the government's measures are implemented without a hitch. We promise to create a housing market where the public can feel secure through prompt supply and support for genuine demand."
He further criticized the People Power Party, saying, "They are merely criticizing without reflecting on the supply shortcomings of the previous administration, and since becoming the opposition, they have obstructed every government policy aimed at promoting supply."
Following the announcement of the government measures, spokesperson Park Ji-hye stated in a written briefing, "We will eliminate barriers between committees and work closely with the government to swiftly advance effective real estate policies and related legislation," adding that efforts will focus on stabilizing the unstable rental market through short-term supply measures. Floor spokesperson Lee Joo-hee also emphasized to reporters, "We must hold a plenary session next week."
In contrast, the People Power Party harshly criticized the policy for lacking regulatory relief, labeling it as ineffective and a mere rehash of previous measures. They pointed out that the supply in downtown Seoul is limited to just 1,000 units, while the government touts a figure of 230,000 units in the metropolitan area as misleading. Concerns were also raised about the inadequacy of regulatory relief measures.
Chief spokesperson Choi Bo-yoon issued a statement condemning the policy as "misleading and ineffective," asserting, "Without the abolition of punitive regulations, true acceleration of supply is impossible. Promising to break ground in four to five years without regulatory reform is a hollow promise that completely ignores the urgent needs of the homeless and the market for effective supply."
Floor spokesperson Choi Soo-jin also commented, "This belated announcement is a rehash of policies that echo the failures of the Moon Jae-in administration," urging the government to acknowledge its failures in real estate policy and to initiate fundamental policy changes for effective supply and market trust restoration.
She added, "The reasons for the failure of the Lee Jae-myung administration's real estate policy are clear. The plan was misguided, attempting to increase supply through taxes without actual supply while tightening demand with loan regulations and designating triple-regulation zones. What the public needs is not just numbers in announcements but actual housing that can be occupied."
Earlier that day, the government announced a real estate supply plan that includes the release of at least 230,000 housing units in the metropolitan area through the lifting of development restrictions and prioritizing the supply of 27,000 units in areas such as Gangseo-gu in Seoul and Namyangju and Gwangju in Gyeonggi Province. The plan also includes the disclosure of an additional 73,000 hectares of new land by the end of the year.
* This article has been translated by AI.
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