Oh Sehoon Counters President Lee’s Real Estate Criticism: "Redevelopment Achievements Double Park Won-soon's Era"

Oh Sehoon Hosts Session to Share Seoul’s Housing Policy Achievements
"Responding with Numbers and Results... 35 New Redevelopment Districts Annually"

Seoul Mayor Oh Se-hoon announced the city's housing policy achievements in person on the 21st, stating, "Over the past five years, the average number of new redevelopment districts designated annually has been 35—a figure more than double the previous 10-year average of 17." This was a public rebuttal to President Lee Jaemyung’s remarks in a press conference on the 18th, where he claimed that since 2022—when the Yoon Suk Yeol administration took office and Mayor Oh was elected—the number of housing permits and construction starts had halved.

Seoul Mayor Oh Se-hoon is delivering the opening speech at the EnterTech·GES Seoul 2026 opening ceremony held at Dongdaemun Design Plaza in Seoul on the 18th. September 18, 2026. Photo by Hyunmin Kim

Mayor Oh hosted a housing policy achievement sharing session at Seoul City Hall that morning, noting, "There have been many questions and criticisms regarding the city’s housing policy in recent years," and added, "Today, I intend to answer those questions with concrete figures and results."

Mayor Oh emphasized on this day that, compared to the tenure of his predecessor, Mayor Park Won-soon, redevelopment and reconstruction projects have significantly recovered over the past five years. This appears to be in direct response to President Lee’s comment, “There are various reasons for the supply shortage, yet some people blame it on Mayor Park Won-soon.”

Mayor Oh explained, "With the average annual number of new redevelopment districts rising to 35, redevelopment projects are currently underway in 496 districts across Seoul. We have also shortened the period required for a district designation from the usual five years to about two years." This year, Jangmi 1, 2, and 3 in Songpa-gu, Seobinggo Sindonga in Yongsan-gu, and Yeouido Sambu and Mokhwa Apartments in Yeongdeungpo-gu were newly designated as redevelopment districts. He continued, "Construction starts this year have reached 50% of our annual target, and we plan to focus on managing the entire process to achieve a cumulative 310,000 housing starts by 2031." He emphasized, "Sustained provision of adequate housing is the fundamental solution for mid- to long-term market stability."

Mayor Oh once again called for improvements to government regulations on redevelopment projects, asserting that regulatory hurdles still remain. Previously, the government’s August 13th measures relaxed the consent rate for forming a redevelopment association to 70% and included steps to invigorate redevelopment projects. However, the Seoul Metropolitan Government maintains the position that temporary relaxations are needed—not only lifting the three-year restriction on association member status transfers, but also easing the required ratio of rental housing in redevelopment projects from the current 50–75% down to 30–50%. The city also stresses the need to increase the legal maximum floor area ratio for private redevelopment projects by 1.2 times.

Regarding a ruling party initiative to delegate authority for redevelopment projects with fewer than 500 households to district offices, Mayor Oh reiterated his opposition, warning that it could compromise urban planning principles. He pointed out, "Seoul City’s review period accounts for just 2.7% of the total redevelopment project timeline, and 17 of the district offices have no personnel with any experience in redevelopment project reviews," expressing his concerns.

In response to criticism from some that the city is neglecting public housing, Mayor Oh countered, "Of the 410,000 public rental housing units in Seoul, the Seoul Housing & Communities Corporation (SH) has supplied 68%." He added, "By 2031, we will supply an additional 130,000 units and expand stable housing options for vulnerable segments and citizens without their own homes."

On improving housing conditions for young adults and newlyweds, Mayor Oh stated, "We will continue to expand the supply of diverse types of housing tailored to people’s life stages and income levels, increasing the cumulative total by 74,000 units primarily in transit-accessible and job-rich neighborhoods." He added, "Our goal is to build a ‘Seoul-style housing ladder’ so that savings on housing costs can lead to homeownership."

Regarding the controversy over high security deposits for the long-term rental housing program 'Mirinae Jib' for newlyweds, Mayor Oh explained, "Given the rising burden of security deposits due to increasing home sale and rental prices, we will listen to opinions in the field and consider possible supplemental measures as needed."

Mayor Oh also reaffirmed his existing position that Yongsan Park and greenbelt areas should be preserved as green spaces for future generations. As for the Tancheon Water Reclamation Center, he explained that this is a project to create housing, parks, and industrial facilities by utilizing existing urban infrastructure, rather than damaging new green space.

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