Real Estate: Lee Jae-myung Reflects on Policy, Oh Se-hoon Announces Construction

by Kim Doo Il Posted : October 14, 2026, 12:56Updated : October 14, 2026, 12:56

The public does not live in the confidence of the president. Instead, they face daily worries about housing prices and rent. No matter how much the president emphasizes the achievements of real estate policies, if homeownership remains difficult and the burden of rent persists, the government must first examine whether its policies are functioning properly. Rather than asking the public to believe in the success of these policies, the government should actually alleviate the housing burden on its citizens.


On October 13, Seoul Mayor Oh Se-hoon's post on Facebook can be interpreted as another question directed at President Lee Jae-myung. 'Housing supply cannot be achieved overnight just by announcing numbers.' Although he did not mention the president by name, it is easy to infer the target, especially considering his criticism of the president's perception of real estate as 'self-delusion' just a week prior. He is questioning the gap between discussing supply and actually creating it.


On October 6, Mayor Oh also refuted the president's assessment that housing permits and construction have increased due to government policies. He noted that it takes a long time to form associations and obtain permits before construction can begin. The figures reported today reflect years of accumulated administrative and private efforts. For the government to explain its achievements, it must clarify which projects and procedures have been expedited. Not all numbers released since taking office can be attributed to the current administration's accomplishments.


This time, Mayor Oh presented his report card. Among the 25 projects closely managed by the Seoul city government, construction has begun on 14 sites, totaling approximately 15,000 units. The remaining 11 sites account for 16,117 units, including 5,970 units in the Hannam 3 district, 2,228 units in the Bangbae 13 district, 2,200 units in the Sinwolgok 1 district, and 1,254 units in the Machon 4 district. The specific projects and quantities are identified, allowing citizens to verify what will be accomplished and by when.


Mayor Oh has pledged to achieve the construction of 30,000 units by Christmas. He promised to gather cooperation from associations, construction companies, and local districts, vowing to directly remove obstacles at each project site. Questions remain about who will mediate construction cost disputes and who will be responsible for permits; supply policies must address these issues. If problems on the ground remain despite grand announcements of supply figures, then the supply plans will remain mere numbers on paper.


His reference to the 'tears of blood' regarding the past release of redevelopment areas underscores this point. Mayor Oh claims that the release of 389 areas from 2012 to 2020 has undermined the foundation for supplying 430,000 units. The reasons for the release of individual areas and the residents' intentions at that time must be examined. However, the warning that decisions to eliminate supply foundations can have future repercussions on the housing market should not be taken lightly.


Housing policies have a time lag, and the costs are borne by citizens. What the Lee Jae-myung administration needs is not a declaration of victory over the market but an explanation of what is obstructed and what needs to be fixed. While curbing speculation is necessary, the term 'speculation' cannot account for all delays in supply or the anxieties of genuine buyers. If criticism of policies continues, it is essential to assess the effectiveness of those policies before questioning the critics' intentions. For the highest official in the government, adjusting direction is not a matter of face-saving.


The same principle applies to diplomacy. North Korea policy should be evaluated based on security, U.S. policy on the substance of alliances, and diplomacy with China and Russia on how much national interest has been preserved. The delays in U.S. visa issuance for lawmaker Jeong Cheong-rae and the visa issues for National Intelligence Service employees raise questions about the government's explanations and management capabilities. However, the National Intelligence Service has denied reports of restrictions on information sharing. It cannot be immediately concluded that the controversy will lead to a breakdown in alliances. Nevertheless, the government should not assume that a single explanation will resolve the public's concerns.


This point reflects my judgment on governance rather than a critique of Mayor Oh's diplomatic comments on Facebook. The standards that connect housing and diplomacy are the same. It is more important whether the lives of citizens and the trust in the nation have genuinely improved than how the government evaluates itself. The president's confidence should not serve as a shield to cover up real anxieties.


Of course, Mayor Oh cannot conclude evaluations with promises alone. Starting construction does not equate to completion, and achieving 30,000 units does not immediately signify housing stability. His commitment to publicly share the progress and construction results with citizens is therefore significant. If he fails to meet the goals, he must explain and take responsibility. Both the president and the mayor must stand before the same standards. What is now needed is not greater self-praise but verifiable results. The deadline of Christmas set by Mayor Oh marks the starting point of that competition.





* This article has been translated by AI.