Kim Yoonduk Urges Public Institutions and Construction Industry to Accelerate Housing Supply: "Approach with Unprecedented Determination"

On August 18, the government urged public institutions and the housing construction industry in the Seoul metropolitan area to accelerate the housing supply process. Kim Yoonduk, Minister of Land, Infrastructure and Transport, promised to provide comprehensive support if necessary.

Minister Kim presided over a meeting with relevant public institutions and the housing construction industry that day and reviewed the follow-up action plans for the "Rapid Housing Supply Measures" announced on August 13.

Minister of Land, Infrastructure and Transport Yoonduk Kim is speaking at a closed-door meeting on rapid housing supply measures and discussions between public institutions and the industrial sector at the National Land Development Exhibition Center in Jung-gu, Seoul on August 18, 2026. Photo by Yonhap News Agency

During the meeting, the Ministry of Land, Infrastructure and Transport and the public institutions reiterated that the public sector will be responsible for more than one-third of the Seoul metropolitan area's "1.5 million plus alpha" housing target, as established by the September 7, January 29, and August 13 measures, and expressed their commitment to achieving this goal without disruption.

Minister Kim instructed public institutions to devise fundamental responses for housing supply, including securing financing and organizing necessary personnel and systems. He also stated that the government would provide active support if institutions submit any requirements needed during project implementation.

Minister Kim said, "I ask you to boldly break away from conventional work practices and routines and to approach this speed-driven supply effort with an unprecedented level of determination and execution." He also requested that public guarantee institutions "offer the largest-ever scale of guarantees and drastically shorten review procedures."

The Ministry pledged to improve financial and tax systems, as well as urban and architectural regulations, and to offer early construction incentives. In return, the ministry called for the active participation of the housing construction industry to expand supply.

Industry representatives asked the government to quickly process relevant legislation and expedite follow-up actions so that regulatory improvements could take effect at the field level as soon as possible.

The meeting was attended by representatives from Korea Land and Housing Corporation (LH), Seoul Housing & Communities Corporation (SH), Gyeonggi Housing & Urban Development Corporation (GH), Incheon Housing and City Corporation (iH), Korea Housing Finance Corporation (HF), Housing & Urban Guarantee Corporation (HUG), Korea Housing Association, Korea Association of Construction & Housing Industry, Korea Developers Association, and major construction companies.

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