Prime Minister Han Seung-soo emphasized on August 14 that housing supply is her top priority, pledging to personally inspect construction sites weekly to monitor progress. She announced the activation of a rapid supply inspection team within the Prime Minister's Office and plans for regular government-wide meetings to accelerate housing supply.
During the first government-wide rapid housing supply inspection meeting held at the Government Seoul Complex, Han stated, "We must execute this plan swiftly to deliver tangible results that the public can feel." This meeting took place just a day after the government announced measures aimed at stabilizing the rental and sales markets and a comprehensive financial plan for the real estate sector.
Attendees included Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol, Minister of Agriculture, Food and Rural Affairs Song Mi-ryung, Minister of Planning and Budget Park Hong-geun, Financial Services Commission Chairman Lee Ok-won, and First Vice Minister of Land, Infrastructure and Transport Kim I-tak, among 18 officials from relevant ministries and public institutions.
Han noted that while there was positive feedback on the government's consolidated supply measures and support from the housing construction industry for revitalizing private supply, there were also calls for proof of execution through actual construction results. She stressed, "The key is execution and the speed at which we can complete these measures. Rapid supply is crucial to meet public expectations, and we must manage the implementation meticulously to adhere to the planned schedule."
She explained that convening a government meeting immediately after the announcement was a clear indication of the government's commitment to execution. Han reiterated, "The reason for holding the first government-wide rapid housing supply inspection meeting just a day after the announcement is to ensure we execute this plan swiftly and achieve results that the public can feel."
Moving forward, she stated that housing supply would remain her top priority, with weekly site inspections and close monitoring of project progress alongside the rapid supply inspection team. The government will also hold regular meetings to address collaboration and coordination issues among relevant ministries and swiftly resolve any obstacles encountered during project implementation. Progress on supply measures will be continuously reported to the Cabinet.
Han called for expanded financial support to alleviate housing burdens for young people and newlyweds. She stated, "We will provide specialized housing finance programs tailored to the needs of youth and actively identify and resolve the 'marriage penalty' that disadvantages newlyweds, lowering the barriers for prospective homeowners to secure loans."
Financial support for housing developers will also be strengthened. Han committed to quickly identifying and implementing detailed tasks that can be felt directly in the field, such as enhancing financial support for developers to promote housing supply.
She emphasized that housing supply is a national issue that cannot be solved by any single ministry alone, requiring collaboration from the entire government. "All relevant institutions, including central and local governments and financial institutions, must work together," she said.
Han urged ministries and agencies to share any difficulties encountered during the process immediately and work together to resolve them, emphasizing the need for rapid information sharing and collaboration. Administrative procedures and work methods will also be improved to match the speed of supply, with plans to streamline document review processes and handle permits and compensation simultaneously to reduce project timelines.
However, she cautioned that the quality and safety of housing must not be compromised in the name of speed. Han stated, "We must change the way the government has operated to increase supply speed, but we must also ensure the quality and safety of housing meet public expectations."
She concluded by stating that this meeting should mark the beginning of rapid and practical housing supply that the public can feel, calling for active cooperation from ministers and public institutions.
* This article has been translated by AI.
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