Vice Minister Kim Itak: "We Will Swiftly Remove Regulations Hindering Non-Apartment Housing Supply"

On-Site Inspection of Obstacles to Supplying Studios and Officetels

Kim Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport, met with non-apartment housing business operators on the 27th and stated, "Until the emergency housing supply situation is resolved, we will swiftly remove regulatory obstacles and strengthen support, including expanding construction financing and operating support centers to address on-site difficulties."

On this day, Vice Minister Kim held a policy meeting with private sector representatives such as urban lifestyle housing and officetel business operators at the Korea Housing Construction Association in Yeongdeungpo-gu, Seoul. He said, "Due to unstable material supply, a rigid funding environment, and various regulations, the vitality of the non-apartment housing market, including urban lifestyle housing, has significantly weakened."

Urban lifestyle housing is a type of residence introduced in 2009 to facilitate the rapid supply of small housing units in city centers. These units are built with an area of up to 85 square meters per household and fewer than 300 units per complex. Construction standards, such as parking requirements and minimum building distances, are relaxed compared to standard multi-family housing, thereby reducing the burden on business operators.

Lee Itak, First Vice Minister of the Ministry of Land, Infrastructure and Transport (far left), is discussing plans to expand the supply of non-apartment housing at a meeting with urban lifestyle housing and officetel developers held on the 27th at the Korea Housing Construction Association in Yeongdeungpo-gu, Seoul. Ministry of Land, Infrastructure and Transport

The meeting was organized to ensure the swift implementation of the non-apartment supply expansion plan announced by the Ministry of Land, Infrastructure and Transport the previous day. Although the government has pledged to ease certain regulations and expand financial support, actual supply expansion depends on the actions of private business operators. Vice Minister Kim's direct engagement with the industry demonstrates his intent to hear about obstacles experienced in the field and to expedite follow-up measures.

Urban lifestyle housing and officetels are considered effective means to rapidly increase housing availability within city centers, as their permit and project sizes are relatively smaller than those of apartments. However, rising construction costs and deteriorating loan conditions have led to an increasing number of projects being postponed or abandoned.

At the meeting, industry representatives stated, "The non-apartment housing market is more sensitive to regulatory changes than the apartment market," and requested that the follow-up procedures for the government's announced policy improvements be carried out quickly so that they can be applied immediately in the field.

Vice Minister Kim emphasized, "Non-apartment housing, such as urban lifestyle housing and officetels, is an important source of housing supply that can quickly and efficiently meet demand within city centers. To address the rental demand from single- and two-person households and to ensure housing stability for ordinary people, it is essential to facilitate not only apartment supply but also non-apartment housing supply."

He added, "The government and the private sector will work as one team, communicating and cooperating closely. We will focus all our efforts to quickly resolve the urban housing supply shortage."

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