Party and Government to Improve Redevelopment and Reconstruction System... Authority Over Projects of Up to 500 Households Granted to Local Government Heads

Park Sungjoon Briefs on Outcomes of High-Level Party-Government Consultation
"We Will Actively Work Together for Rapid Housing Supply"

The Democratic Party of Korea announced that it had reached an agreement with the government and the Presidential Office during a high-level party-government consultation to grant local government heads the authority over redevelopment and reconstruction projects involving up to 500 households.

Yonhap News Agency

At a briefing on the outcomes of the high-level party-government meeting held at the National Assembly Press Center in Yeouido on the 23rd, chief spokesperson Park Sungjoon stated, "We have decided to actively discuss the easing of private redevelopment and reconstruction regulations moving forward." He explained that this measure is a response to demands raised by district mayors in Seoul and other private sector groups.

Additionally, chief spokesperson Park noted that measures to provide housing for future generations, such as young people and newlyweds, as well as policies to stabilize the jeonse and monthly rent markets, were also discussed.

He emphasized, "The party and the government will actively work together to ensure rapid housing supply," adding, "We have reached a consensus on shortening the approval process by delegating authority, and we will pursue related legislative bills in the National Assembly."

With regard to real estate tax reforms, chief spokesperson Park stated, "There is a shared understanding within the party and government on expanding the recognition of residency in unavoidable non-occupancy circumstances and other opinions raised on tax issues." He further said, "For the comprehensive real estate holding tax, the Democratic Party strongly called for eliminating the distinction between owner-occupied and non-owner-occupied properties for single-home owners."

Regarding the promotion of key bills related to public welfare, he said, "The party and the government have decided to prepare and pursue a legislative strategy for the September regular session to ensure the prompt implementation of public welfare and reform-related as well as major state agenda bills." He added, "We intend to focus our legislative efforts to ensure that public welfare, reform, and other related bills are processed within the year, in coordination with the regular session and the budget review schedule."

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