Hong Ji-sun, the nominee for Minister of Land, Infrastructure and Transport, clarified that utilizing real estate tax policy as a direct means to stabilize housing prices is not the intent. She emphasized that housing policies take time to show results and that the government will consistently pursue existing policies, including expanding supply.
During a confirmation hearing on September 16, Hong stated, "(President Lee Jae-myung's real estate policy pledge) does not mean we will control housing prices through taxes."
She noted, "Due to a slowdown in construction over the past three to four years, we currently face a shortage of housing supply," and stressed that housing policies require steady, long-term implementation rather than expecting immediate effects.
When asked by Kim Eun-hye, a member of the ruling People Power Party, whether she would maintain the current government's real estate policy direction, Hong highlighted the importance of consistency and predictability in policy. She said, "Policies must be predictable and consistent for their effects to be sustained," adding that there is a time lag before the actual effects of supply measures are realized.
Hong also mentioned that the Ministry of Land will thoroughly consider policies for non-homeowners and actual residents, collaborating with the tax department.
Regarding the potential use of part of Yongsan Park for housing supply, she stated that a specific development plan has not yet been established. In response to a request from Democratic Party lawmaker Yoon Jong-gun to initiate public discussions if the need for utilizing Yongsan Park is identified, Hong replied, "We have not yet established a concrete development plan."
She added, "We need to go through a process of public discussion and opinion gathering, and even if we proceed, a legislative process will be necessary. The core areas of Yongsan Park must be preserved, and if there are ways to contribute to solving housing issues for future generations, we will consider those as well."
In response to concerns about the lack of documentation regarding her past relocations and military service classification, Hong explained, "I have lived in jeonse (long-term rental) for 20 of my 30 years in public service, moving due to work or my spouse's circumstances," and clarified that the military service classification documents were not refused but were lost by the Military Manpower Administration.
* This article has been translated by AI.
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