President Lee to Hold Second Real Estate Policy Review on August 7... Follow-Up on Accelerating Supply

Marathon Meeting Extended After 7 Hours 30 Minutes on August 3,
Second Closed-Door Session Scheduled

Ministries to Present Findings on Available Sites, Streamlining Procedures,
and Financial Support Measures

President Lee Jae-myung will hold the second real estate policy review meeting behind closed doors at 2 p.m. on August 7. This is a follow-up meeting to the "Real Estate and Stock Market Review Meeting" that was held for 7 hours and 30 minutes on August 3—the day he returned from his trip to the United States and South America.

President Lee Jae-myung is speaking at the briefing on ministry work for the Ministry of Education, the National Education Committee, the Ministry of Culture, Sports and Tourism, and the National Heritage Administration held at the Blue House State Guest House on August 5, 2026. Photo by Yonhap News.

Kang Yujeong, Chief Presidential Spokesperson, announced on August 5, "President Lee is scheduled to privately chair the second real estate policy review meeting at 2 p.m. on August 7, as instructed during the Real Estate and Stock Market Review Meeting on August 3."

This meeting is expected to focus on the results of the relevant ministries’ reviews regarding plans to expand housing supply, which President Lee requested at the previous meeting. While the first meeting set the broader direction, the second will likely examine concrete implementation plans, including supply volume and target sites, streamlining administrative procedures, and financial and fiscal support.

During the 7 hour and 30 minute meeting on August 3, President Lee identified the continued slump in housing supply since 2022 as having created a "supply cliff," emphasizing that not only the quantity but also the speed of supply is critical. He also directed staff to maximize available housing supply and to broadly review options such as administrative action, financial and fiscal support, and regulatory relaxation.

It has been reported that President Lee directly questioned Vice Prime Minister and Minister of Economy and Finance Koo Yoon-chul, Minister of Land, Infrastructure and Transport Kim Yoon-duk, and relevant senior officials, examining causes of supply delays and possible solutions.

In particular, additional identification of available sites such as public and state-owned land, as well as measures to advance the start and occupancy dates for already secured sites, are expected to be key points for review. Topics such as revitalizing urban renewal projects, encouraging non-apartment housing supply, shortening approval and licensing procedures, and normalizing real estate project financing (PF) may also be discussed.

Immediately after the first meeting, the government began consulting related ministries and gathering market feedback. The Ministry of Land, Infrastructure and Transport and financial authorities have reportedly been reviewing regulations and financial obstacles that impede housing supply and have been identifying measures that can have a rapid impact on increasing housing supply.

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