As the Seoul mayoral election approaches, the debate over housing supply intensifies. Oh Se-hoon's campaign responded to Jung Won-o's criticism of the current housing policy by stating, "During Jung's 12 years as Seongdong District Mayor, the completion rate for redevelopment projects was effectively '0%.'"
Lee Chang-moo, head of Oh Se-hoon's election campaign's Special Committee on Real Estate Normalization, issued a statement on May 22, asserting that Jung's attacks on Oh's housing policy, citing a "lack of supply results," are fundamentally contradictory.
Lee emphasized that Oh's administration has significantly expedited the designation of redevelopment and reconstruction zones through the "Rapid Integrated Planning" initiative, and that these efforts will lead to substantial housing supply starting in the next mayor's term. He criticized Jung for repeating the same criticisms without acknowledging these advancements.
Highlighting Jung's long tenure as district mayor, Lee stated, "The role of local governments is crucial in the designation and execution of redevelopment projects. Given Jung's record, he should apply the same standards to himself."
According to Lee's analysis, since Jung took office in 2014, none of the 11 designated redevelopment areas in Seongdong District have resulted in completed projects, leaving the completion rate at 0%. He noted that this performance is below the average completion rate of 4.8% for Seoul during the same period.
Lee further pointed out that even when considering redevelopment zones designated since 2010, Seongdong's completion rate remains at 0%, significantly lower than the average of 15.2% for other districts in Seoul.
He acknowledged that Jung's team might argue that redevelopment projects take a long time to complete, but he countered that this reasoning actually supports the legitimacy of Oh's housing supply policies. Lee argued that the current supply shortage is largely due to the previous administration's cancellation of large-scale redevelopment zones, and that the current expansion of designated areas will eventually lead to increased supply, a point that Jung's own arguments inadvertently validate.
Lee concluded, "While Jung claims that his 12-year record requires 'time,' he immediately points to Oh's supply policies based solely on completion results. This is a classic case of double standards. The supply debate, which Jung has used to attack Oh, is turning into a self-inflicted wound that reveals his own administrative shortcomings."
* This article has been translated by AI.
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