Kwon Chil-seung, the policy chief of the Democratic Party, stated on October 22 that "housing supply leading indicators are showing improvement, signaling a positive trend," and pledged to develop real estate measures that enhance public perception of supply outcomes.
During a National Assembly audit strategy meeting held that morning, Kwon noted, "As a result of the Lee Jae-myung administration, recent housing construction has passed its lowest point and is showing signs of recovery. Some leading indicators for housing supply are improving, indicating a positive signal."
He further claimed, "The number of permits, a leading indicator of supply, has increased by 74% in Seoul compared to the same period last year over the past six months. During the same period, construction in Seoul has also risen by 45% compared to the previous year, showing improvement."
However, Kwon acknowledged that improvements in housing supply indicators alone may not be sufficient for the public to feel the effects, stating, "We need to implement effective measures to ensure that improved indicators lead to actual occupancy and residential stability. The Democratic Party will work to enhance the public's perception of supply outcomes while also focusing on establishing a sustainable supply foundation."
In particular, Kwon emphasized the need for various measures to accelerate supply, including shortening land compensation and acquisition periods and utilizing modular housing. He promised to listen to concerns raised in the field and engage in close discussions with the government, stating, "We will steadfastly realize residential stability for the public, undeterred by any political attacks."
Kwon also addressed recent comments from the People Power Party regarding the National Pension Service, which he described as "pension fund casino and election-related stock market support," urging them not to incite public anxiety.
He remarked, "The People Power Party is making reckless statements, even mentioning special investigations and presidential impeachment. They should immediately cease political agitation," and explained, "The operational principle of the National Pension Service is to manage the fund stably from a long-term perspective."
He added, "The National Pension Service is a fund responsible for the public's retirement. It should be evaluated based on long-term profitability and stability, not short-term investments. I urge the People Power Party not to treat the public's retirement funds as speculative capital or a tool for political strife."
* This article has been translated by AI.
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