The Democratic Party announced on October 11 that the government plans to unveil housing supply measures and financial policies on Thursday, October 13.
Kim Han-kyu, the party's deputy floor leader, stated during a parliamentary meeting that he believes the government has thoroughly considered the need for stability in the rental market. He added, "The Democratic Party will continue to listen to the public's opinions after the government's announcement and will communicate closely to make necessary adjustments."
He emphasized the urgent need for reliable real estate measures, noting that tenants are currently the most anxious group. He explained that due to stricter residency requirements for tax benefits, landlords may be forced to vacate their properties, which could lead to rising rental prices amid a decrease in supply in the rental market.
Kim further asserted that the only solution is to increase supply, stating that financial and tax policies should also focus on this aspect. He urged the government to devise plans to ensure sufficient rental housing supply across all categories, including apartments and non-apartment units. He highlighted that the supply of non-apartment housing has significantly decreased following rental fraud incidents, necessitating greater attention.
Additionally, Kim noted that financial support for suppliers, regulatory relief, and tax incentives are all essential. He mentioned that since the National Assembly's Land, Infrastructure and Transport Committee, the Political Affairs Committee, and the Finance Committee are all involved, the Democratic Party will coordinate efforts through the housing market stabilization task force, which will hold its first meeting on October 12. The party also plans to convene a general meeting of lawmakers on October 13 to explore solutions for the real estate crisis.
Moreover, Democratic Party member Kim Young-bae appeared on SBS Radio's 'Kim Tae-hyun's News Show' on the same day, expressing concerns about financial support related to loans and real demand. He stated, "The financial measures are expected to be announced by the government on October 13, and we must closely examine them and actively make adjustments if necessary."
* This article has been translated by AI.
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