South Korean Prime Minister Han Seung-sook stated on August 25 that the youth housing supply related to redevelopment and reconstruction, emphasized by Seoul Mayor Oh Se-hoon as part of real estate supply measures, is currently challenging due to pricing and various conditions.
During a comprehensive policy inquiry at the National Assembly Budget and Settlement Special Committee, Han responded to a question from Democratic Party lawmaker Kim Nam-kun about whether youth housing could be supplied through Mayor Oh's urban renewal projects. He noted, "For young people just entering the market, the price range is quite burdensome."
Han also commented on the government's overall supply policy, suggesting that it should be adjusted to provide more predictable changes for young people and consumers.
In response to Democratic Party lawmaker Jo In-cheol's concerns about the concentration of population and industry in the metropolitan area, Han emphasized the importance of the government's three major mega-projects aimed at creating a business ecosystem and improving living conditions. He stated, "If the overall ecosystem is well established, a new era will open up, and we must commit to this future."
* This article has been translated by AI.
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