Oh Se-hoon, the Mayor of Seoul, strongly criticized the government's housing policies on the first anniversary of the 10·15 real estate measures implemented by the Lee Jae-myung administration. He argued that the large-scale removal of redevelopment zones during previous administrations has led to the current housing supply shortage, urging a recognition of policy failures and a shift in supply strategies.
In a Facebook post on October 18, Oh stated, "Last Thursday marked exactly one year since the Lee Jae-myung government announced the 10·15 real estate measures. The report card is so dismal that it is painful to unfold."
He continued, "The government seems to lack the courage to reflect on the past and the will to face reality," pointing out that the government and ruling party are blaming the current housing supply shortage on the sitting mayor of Seoul.
Oh identified the previous administration's redevelopment policies as a key factor in the current instability of the housing market. He noted, "During Park Won-soon's tenure, 389 redevelopment zones were removed, resulting in the loss of opportunities to supply 430,000 housing units," emphasizing that this occurred during a time when the construction industry was recovering from the financial crisis. He criticized the decision to reduce redevelopment projects at a time when supply could have been expanded.
He specifically highlighted that many of the zones removed were already well into the redevelopment process. Oh explained that areas where promotion committees were formed or where associations had received establishment approval, as well as those that had completed project implementation approvals, were included in the removals, with approximately 41% of the total 159 zones being at advanced stages of development.
He stated, "The indiscriminate removal of redevelopment zones has systematically undermined the entire process of housing supply from permitting to construction," adding, "The wrong decisions made 15 years ago have resulted in the deletion of numerous housing units that should have been supplied by now."
Oh also emphasized that the white paper published by the Seoul city government serves as a self-evaluation document to reflect on past policies. He described the white paper as "a reflective confession by Seoul city officials, who have looked back on the past and revealed the scars left by misguided policies."
Furthermore, Oh urged members of the Democratic Party to acknowledge their past mistakes, stating, "Just as the Seoul city government has confessed and reflected on its past errors, the government and ruling party must now recognize their failures and correct their policy direction." He added, "Policies without reflection repeat failures, and the costs are always borne by the people. I hope you will take the time to consider the lives of citizens burdened by housing prices instead of focusing on attacking me."
* This article has been translated by AI.
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