[2026 Parliamentary Audit] "Seoul City Is Holding Up Supply" vs. "Blame the Lee Administration"... Ruling and Opposition Parties Trade Blame Over Housing Shortage (Summary)

Ruling Party: "Seoul Deliberately Delaying Urban Housing Project
Housing Supply at Yongsan Park Must Be Pushed Through"
Opposition: "Owner-Occupier Policies Drive Up Prices on Seoul's Outskirts
Moon Administration Illegally Surveilled 19 Civilian

At a parliamentary audit held on the 7th, rival parties clashed over the Lee Jae-myung administration's record on real estate policy. The opposition criticized the government for failing to cool housing prices despite its stringent regulations, while the ruling party blamed Seoul Metropolitan Government for the housing supply shortage. The hearing also grew heated after the opposition alleged that the government had illegally surveilled civilians during the Moon Jae-in administration.

Kim Jeong-jae of the People Power Party said at the audit, "An unprecedented triple surge is continuing, with apartment sale prices, monthly rents and jeonse deposits all rising at once in Seoul." She criticized the government, saying, "Seoul apartment prices are rising because people who need homes are buying out of desperation."

Minister of Land, Infrastructure and Transport Hong Jiseon answers lawmakers' questions during a parliamentary audit of the ministry and other agencies at the National Assembly's Land, Infrastructure and Transport Committee on the 7th. Yonhap News.

She said the government's owner-occupancy-focused policies had driven up home prices on the outskirts of Seoul. Kim said, "As tenants who had planned to switch to monthly rentals because of the jeonse shortage have flocked to the outskirts in search of homes priced at 1.5 billion won or less for which they could get even a 600 million won loan, a balloon effect has emerged. Unless the government changes policies that ignore the market, its approval rating will continue to fall."

Some lawmakers also argued that stringent lending restrictions had deprived young people with limited financial means of the chance to buy a home. Jeong Hui-yong of the People Power Party said, "The lending restrictions did not bring down home prices; they changed who is qualified to buy a home. People with ample assets have gained greater purchasing power, while young people and ordinary citizens who cannot buy homes without relying on loans are losing their path to homeownership."

The ruling party pointed to differences with Seoul Metropolitan Government as a reason for the slow pace of housing supply. Kim Nam-geun of the Democratic Party of Korea said Seoul Metropolitan Government had deliberately delayed convening pre-planning consultative bodies for six urban public housing complex development districts since April. "These projects involve nearly 12,000 housing units, and it appears Seoul Metropolitan Government is using the convening of the consultative bodies as leverage in negotiations with the Ministry of Land, Infrastructure and Transport," he said.

Democratic Party lawmaker Yeom Tae-young also said, "Isn't Seoul Metropolitan Government holding back housing supply?" He added, "Additional floor-area ratios and the level of public contributions are matters that the Ministry of Land, Infrastructure and Transport, the Korea Land and Housing Corporation (LH) and Seoul Metropolitan Government need to discuss closely."

Lawmakers also called for swift consultations with Seoul Metropolitan Government on housing supply around Yongsan Park. Former Land Minister Kim Yun-deok and Seoul Mayor Oh Se-hoon had previously met twice to discuss housing supply in Yongsan Park, but failed to narrow their differences.

Democratic Party lawmaker Jeong Il-young, referring to Seoul Mayor Oh Se-hoon's proposal to use the Tancheon Water Reclamation Center as an alternative site, said, "If Seoul Metropolitan Government opposes it so fiercely, does that mean housing supply cannot go ahead? I wish the government would push harder on Yongsan Park, at least." He added, "Yongsan Park and the Tancheon Water Reclamation Center are only a small part of the government's overall supply plan, so I hope that will be made clear."

Meanwhile, the opposition alleged that a previous government had illegally surveilled 19 civilians, prompting a clash between the parties. Kim Eun-hye of the People Power Party claimed that in 2019, the Ministry of Land, Infrastructure and Transport collected information on the property ownership histories and public statements of 19 real estate experts who had voiced opinions at odds with government policy.

Kim said, "The government illegally combed through the individual assets of 19 civilians it had targeted, and drew up a blacklist by labeling those who opposed its position as forces disrupting the market."

The Democratic Party of Korea protested that the authenticity of the documents had not been verified, causing an uproar in the hearing room. Democratic Party lawmaker Bok Gi-wang countered, "Presenting unfamiliar material as fact on the first day of the audit only serves to turn the hearing into a venue for political wrangling and create confusion."

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