Sehun Oh and Yoonduk Kim Hold Closed-Door Meeting to Discuss Measures for Expanding Housing Supply

Discussion on Yongsan International Business District Housing Supply Volume

Sehun Oh, the Mayor of Seoul, met with Minister of Land, Infrastructure and Transport Yoonduk Kim to discuss measures for expanding housing supply.

According to the Seoul Metropolitan Government on July 24, Mayor Oh and Minister Kim held a closed-door meeting on this day, during which they exchanged views on the overall real estate policy, including the current state of the housing market and ways to increase supply.

Minister of Land, Infrastructure and Transport Yoon-duk Kim (left) and Seoul Mayor Se-hoon Oh are answering questions from reporters after their luncheon meeting at Dalgaebi in Jung-gu, Seoul on November 13 last year. Photo by Yonhap News

Mayor Oh has pointed out that the government’s real estate policy has focused excessively on loan restrictions and demand suppression, and he insists on expanding supply through revitalizing private redevelopment and reconstruction projects.

The two also discussed the housing supply volume for the Yongsan International Business District. While the government announced this year in its January 29 real estate supply measures that 10,000 units would be supplied to this area, the Seoul Metropolitan Government maintains that the upper limit is 8,000 units, considering its function as a business hub and the possibility of project delays. However, it has been reported that no specific agreements were reached at this meeting.

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