Ruling Party and Government to Fast-Track Legislation for 1.35 Million New Homes; Normalization of Illegal Buildings Planned for First Half of Next Year (Comprehensive)

Goal to Pass September 7 Measures Bills Within the Year
PM Legislation to Be Finalized in December After Gathering Opinions
Legalization of Illegal Buildings Targeted for Passage by February?March Next Year

The Democratic Party of Korea and the Ministry of Land, Infrastructure and Transport held a party-government meeting at the National Assembly on November 20, agreeing to swiftly process follow-up legislation to implement the September 7 real estate supply plan, which centers on the groundbreaking of 1.35 million new housing units.

Maeng Sungkyu, Chairman of the Land, Infrastructure and Transport Committee from the Democratic Party, stated in his public remarks at the meeting, "We will promptly push forward bills that can be proposed and passed within this year to ensure the successful implementation of the September 7 plan to supply 1.35 million new homes in Seoul and the greater metropolitan area by 2030." Minister of Land, Infrastructure and Transport Kim Yoonduk emphasized, "Legislation for the September 7 supply plan is extremely urgent," adding, "The necessary legal foundation must be established as soon as possible so that the effects of increased supply can be felt quickly."

Yonhap News

Bok Giwang, the Democratic Party’s secretary on the Land Committee, told reporters after the meeting, "Real estate policy is not just for the Democratic Party or the People Power Party. We will continue bipartisan cooperation with the people in mind, and do our utmost to ensure these bills can be handled in the committee through cooperation until the very end." However, he noted, "The Land Legislation Review Subcommittee is chaired by the opposition, and with many bills to be addressed or pending, there are concerns that discussions are progressing slowly," adding, "The government and the Democratic Party have agreed to work together to seek the cooperation of opposition lawmakers." He further stated, "From now until the end of the year, we will hold party-government consultations on key issues almost every week."

Currently, the Land Legislation Review Subcommittee is reviewing several bills, including the Special Act on Maintenance and Support for Aging Planned Cities, the Urban and Residential Environment Improvement Act, and the Real Estate Transaction Reporting Act. The subcommittee is chaired by Kwon Youngjin, a member of the People Power Party.

The normalization of illegal buildings is also being pursued, with the goal of processing related legislation in the first half of next year. Bok stated, "We have begun discussions on the extent of normalization," and added, "We aim to pass the bill through the plenary session by February or March of next year, after holding discussions weekly or biweekly going forward."

Discussions on personal mobility devices (PM), such as electric scooters, will also be accelerated. Bok said, "We plan to address this in the subcommittee next week," noting, "There are a great many opinions on this matter." He explained, "We have decided to further investigate the opinions of young users-such as through university student councils, which are major channels for such feedback-and hold another round of discussions." Bok added, "As of now, we intend to take up this issue as the first agenda item in the subcommittee meeting on November 26, but if the process of gathering opinions is insufficient, we will address it in early December."

This content was produced with the assistance of AI translation services.