Vice Minister Heo Jang of Economy and Finance Requests Full Cooperation from Local Governments for Housing Supply Expansion

Heo Jang, Second Deputy Minister of Strategy and Finance, stated, "The government will leverage all policy tools and resources to rapidly expand housing supply in order to normalize the real estate market," and called for full cooperation from local governments.

On October 1, at the main conference hall of the Korea Deposit Insurance Corporation in Jung-gu, Seoul, Deputy Minister Heo held the "2026 Central-Local State Property Policy Council," where he explained the government's measures for the swift implementation of the January 29 housing supply plan. He also requested active cooperation from local governments regarding matters such as urban planning revisions.

Heo Jang, Second Deputy Minister of Strategy and Finance, is presiding over an Emergency Economic Headquarters meeting held at the Government Seoul Office in Jongno-gu, Seoul, on the 3rd, discussing the agenda of 'Checking the response situation related to the Middle East war.' 2026.9.3 Photo by Cho Yong-jun

Additionally, he emphasized that the efficient management and utilization of state-owned property—such as supporting marginalized groups through the use of idle buildings, conducting property surveys and audits, strengthening the authority for ex-officio use discontinuation, and resolving unauthorized occupancy—requires the essential cooperation of local governments.

Local governments requested the central government to utilize state-owned property for a total of 17 projects aimed at revitalizing regional economies and improving residents' living environments. Daegu City proposed the creation of an inter-ministerial consultative body for the exchange of city-owned land within Palgongsan National Park and national land within long-term unrealized park areas. Yeonggwang County in Gwangju, Jeollanam-do, requested to exchange the current Yeongam Police Station site with public land for the restoration of local cultural heritage such as Yeongam Fortress and the relocation and reconstruction of the police station. Dongducheon City in Gyeonggi Province suggested granting permission for free use of the Dongducheon Automatic Weather Observation Center so it can be used as a youth science experience facility.

Furthermore, during the meeting, a rapid housing supply plan announced under the January 29 policy as well as a central-local government cooperation model utilizing state- and public-owned property were presented. The government suggested drastically shortening administrative procedures through the diversification of business structures and the integration of financial techniques for rapid housing supply, and sought cooperation from all parties involved.

With regard to government-led youth entrepreneurship efforts, the Deputy Minister also requested the active interest and participation of local governments in the "Youth Dream Space" project, which transforms state-owned property into youth-centered spaces, and the "Open Campus" initiative, which utilizes idle state property.

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