The Democratic Party of Korea urged the ruling People Power Party and Seoul Mayor Oh Se-hoon to actively cooperate with the government's ongoing "supply first" initiative to address youth housing concerns. This push comes as the party seeks to regain public support amid declining approval ratings among young voters.
During a meeting on youth housing issues hosted by the Seoul chapter of the Democratic Party on August 20, Kim Young-bae, the chapter's chairman, stated, "The National Land Institute warned two years ago about the lack of housing starts in Seoul, predicting that a supply shortage would become a reality within two years."
Kim criticized Mayor Oh, who has led the city for over five years, saying, "Oh has only blamed his predecessors. Isn’t that an insult to the youth? I hope he will present alternatives." The Democratic Party also announced the formation of a special committee on housing supply policies under the Seoul chapter, with lawmaker Oh Gi-hyung as chair and lawmaker Kim Nam-geun as secretary. Youth experts, including former Seoul mayoral candidate Kim Hyung-nam, will also participate.
Criticism was directed at Mayor Oh regarding his opposition to the development of Yongsan Park. After the meeting, lawmaker Kim Nam-geun told reporters, "When the government proposes to supply youth housing, Mayor Oh should not just oppose it but should also present proactive measures."
Kim Hyung-nam, representing the youth, pointed out, "Mayor Oh is completely against supplying housing in Yongsan Park. It is excessive to oppose even partial supply when the proposal does not suggest building housing throughout the entire park." He added, "We need to reconsider whether relying on loans to buy homes is a sustainable approach to housing and emphasize the need for models like shared equity, where individuals pay an initial 25% and purchase the rest later."
Additionally, Han Byeong-do, the party's floor leader, attended a policy coordination meeting that day, stating, "We will prioritize housing supply for youth and newlyweds. We will launch a full-scale effort for national housing stability." He emphasized the need for calm discussions on utilizing the Yongsan Park site to provide quality housing that future generations can afford, noting that the Yongsan Park Special Law was amended during the Roh Moo-hyun administration in 2007, but nearly 20 years have passed since then. While respecting the law's original intent, he insisted that discussions on better utilization should not be obstructed.
The special law specifies that the land cannot be used for purposes other than park use, but an amendment has passed through the legislative committee. Although there were mentions of the special law being addressed in the plenary session that day, both parties decided to observe the situation a bit longer. The Democratic Party continues to argue for the necessity of the amendment, while the People Power Party and Mayor Oh oppose the development of Yongsan Park, leading to significant disagreements. Both parties plan to monitor the upcoming meeting between Minister of Land, Infrastructure and Transport Kim Yoon-deok and Mayor Oh. Mayor Oh is also scheduled to meet with Chairman Kim on August 22 to discuss supply measures.
Meanwhile, Democratic Party lawmakers have argued that the ongoing semiconductor boom could sustain additional tax revenue for several years, suggesting that around 20 trillion won should be allocated for youth housing supply.
* This article has been translated by AI.
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