Jung Won-oh, the Democratic Party's candidate for Seoul Mayor, announced on May 14 that he aims to enhance the viability of redevelopment and reconstruction projects to increase housing supply.
Speaking at a forum hosted by the Korean Newspaper and Broadcasting Editors Association in the Seoul Chamber of Commerce, Jung emphasized, "We must concentrate all our efforts on expanding housing supply," adding that he would prioritize business viability over public interest to boost supply.
He outlined plans to shorten redevelopment and reconstruction timelines and adjust the purchase prices for rental housing to stimulate the real estate market. Jung also mentioned initiatives to expand public housing options, including rental housing near transit stations and the low-cost dormitory pilot program currently operating in Seongdong-gu.
Jung pledged to provide a total of 360,000 housing units by 2031, including 302,000 apartments from redevelopment projects, 10,000 permanent rental apartments, and 50,000 purchase rental units.
Regarding the long-term capital gains tax exemption for homeowners, he stated, "I consistently believe in protecting the rights of one-household, one-homeowners," and promised to work closely with the government to ensure citizen rights are prioritized if he is elected.
He also indicated that he would review whether to include financial and rental income earners in the temporary property tax reduction plan for homeowners without income, which he had promised the day before, after the local elections.
Jung clarified, "The fundamental principle of this pledge is to support one-household, one-homeowners without employment or business income," and noted that details regarding age, inclusion of financial and rental income earners, and eligibility thresholds would be determined in consultation with experts and local governments after the election.
Additionally, Jung announced a plan to develop 20 commercial districts into 'Second Seongsu' areas. Through the 'Seoul Brand Commercial District Development Project,' he aims to analyze foot traffic, sales trends, rental prices, and industry changes in each district to provide tailored growth strategies for small businesses.
He plans to assign a commercial district growth manager to each area to assist with store operations, marketing, and expanding online sales channels.
During a meeting with small business owners at a cafe in Jung-gu, Jung stated, "Just as we succeeded in Seongsu-dong, we will create similar commercial districts across 20 locations in Seoul," adding that the city would review and support plans developed collaboratively by residents and merchants in each district.
Meanwhile, Jung reiterated his refusal to participate in a one-on-one debate as urged by his opponent, Oh Se-hoon of the People Power Party. At the forum, he remarked, "During the People Power Party's primary, Oh said that TV debates are not everything and refused to debate," expressing discomfort with the inconsistency in his stance.
He emphasized, "There are still two more debates and one joint debate left, so the number of debates is sufficient," and asserted the importance of engaging directly with citizens over participating in debates.
* This article has been translated by AI.
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