President Lee Jae-myung on the 20th instructed officials to "wage a housing supply blitz by cutting the time required for everything from land development to permits and groundbreaking as much as possible, without being bound by existing practices and procedures."
Lee made the remarks at a Cabinet meeting he presided over at the Blue House, saying, "What matters is not simply declarations or announcements about how many units will be built, but actual groundbreaking and move-ins." He said housing stability is "a core foundation for genuinely improving people's lives," but added that "over roughly three years since 2022, construction permits for housing have fallen sharply, centered on Seoul, and the supply of new land for development including new towns has been delayed, leaving supply instability structurally entrenched."
He went on to stress that "resolving the current real estate problem, in which multiple factors accumulated over the years have combined, requires consistent market management policy and large-scale housing supply delivered quickly."
Lee also said officials must "pay particular attention to rapidly supplying high-quality public rental housing for young adults and the middle class through active fiscal management," noting that "in December, move-ins will begin in Gyeyang, Incheon, the first among the third-phase new towns. Housing supply in the other new towns must also be accelerated." He urged officials to "make all-out efforts with the resolve that the success or failure of this administration hinges on housing stability that the public can actually feel."