President Lee Holds 7-Hour 30-Minute Marathon Meeting: "Find Ways to Accelerate Housing Supply"

7-hour, 30-minute real estate and stock market meeting immediately after returning to Korea

"Persistent sluggish supply since 2022 has triggered a supply cliff"

"Supply speed is crucial... Mobilize all available administrative, financial, fi

President Lee Jae-myung, on August 3, returned to Korea after his 11-day tour of San Francisco in the United States and Latin America. Immediately upon arrival, he headed straight to the Blue House and presided over a real estate and stock market review meeting for more than seven hours. President Lee diagnosed that the sluggish housing supply since 2022 has led to a 'supply cliff,' and instructed that every possible administrative, financial, fiscal, and regulatory easing measure should be mobilized to secure the maximum amount of supply.

President Lee Jae-myung and First Lady Kim Hye-kyung, returning home after tours in the United States, South America, and Germany, are greeting well-wishers from Air Force One upon arrival at Seoul Airport in Seongnam on August 3, 2026. Photo by Yonhap News Agency

Chief Presidential Spokesperson Kang Yoo-jung stated in a written briefing on this day that President Lee, after returning at 11:30 a.m., immediately went to the Blue House and presided over the 'Recent Real Estate and Stock Market Review Meeting' from 3:00 p.m. until 10:30 p.m.

The meeting was attended by Prime Minister Han Sung-sook, ministers from relevant ministries, and heads of related agencies. President Lee received reports on the status of the real estate and stock markets from the participants, then questioned department directors and heads responsible for practical operations in detail, checking both the market situation and issues with policy implementation.

President Lee specifically identified the root cause of recent instability in the housing market as an accumulated shortage of supply, and ordered a comprehensive reexamination of the overall supply strategies. President Lee stressed, "The continued sluggish housing supply since 2022 has resulted in a supply cliff situation," and added, "To overcome this, supply and the speed of supply are extremely important."

He instructed that every available unit must be secured to make housing supply as quick as possible, and that specific measures should be developed to advance the actual supply timeline. He also ordered that all available policy tools—including administrative actions, financial and fiscal support, and regulatory easing—be thoroughly reviewed. President Lee told the prime minister and relevant ministers, "Reexamine the existing housing supply measures from top to bottom," and emphasized that "we must meticulously respond to the realistic demands of the public from multiple perspectives."

President Lee concluded the 7.5-hour meeting by directing, "Even if it is difficult, hold a follow-up meeting within two to three days to receive additional reports and check progress regarding financial and housing supply issues."

President Lee’s decision to focus on reviewing the real estate and stock markets immediately after returning from his lengthy overseas tour is interpreted as a reflection of the importance he places on managing recent market volatility as one of the administration’s core economic agendas in its second year. The government is expected to conduct further reviews among the respective ministries and report again soon on plans to expand housing supply and stabilize the financial markets.

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