At the cabinet meeting presided over by President Lee Jae-myung held this morning (July 14).
Mayor Oh Se-hoon attended for the first time since his election to a fifth term.
Mayor Oh had prepared to present suggestions regarding real estate, but he was not given the opportunity to speak.
[Oh Se-hoon/Mayor: Regarding Seoul City's housing administration... (Lee Jae-myung/President: Let's discuss that later.)]
Expressing deep regret and disappointment that he could not address real estate policy at the cabinet meeting, Mayor Oh returned to City Hall and held a briefing himself.
Mayor Oh diagnosed that the Seoul housing market is currently facing a triple crisis, with sales prices, jeonse (long-term deposit rental), and monthly rent all rising simultaneously.
[Oh Se-hoon/Mayor: In no previous administration have sales prices, jeonse, and monthly rent all risen at the same time.]
Mayor Oh announced that Seoul City has officially submitted a housing policy improvement plan to the government to resolve this situation.
First, he stated that regulations on relocation cost loans should be rationalized to accelerate urban renewal projects, and that loan and tax regulations on rental business operators should be eased to revitalize the supply of private rental housing.
He also proposed raising the tax base brackets for property taxes and comprehensive real estate taxes, which were established in 2009, to reduce the tax burden on actual residents.
[Oh Se-hoon/Mayor: The conclusion drawn from combining public sentiment on the ground and housing market data is one thing. We must shift the focus of policy from suppressing demand to expanding supply.]
Regarding President Lee Jae-myung's request for a report on why redevelopment and reconstruction projects in Seoul are being delayed, Mayor Oh pointed out, "Redevelopment and reconstruction are being delayed due to a lack of cooperation from the Ministry of Land, Infrastructure and Transport."
He particularly criticized the lack of communication between government ministries, noting that while he had suggested easing relocation cost loan regulations to the Ministry of Land, Infrastructure and Transport more than 10 times, the Financial Services Commission responded as if they had never heard of it.
The Blue House stated that it had received the real estate policy proposal from Seoul City regarding the report submitted by Mayor Oh and that the relevant secretary's office would review it thoroughly.
It added, "There are currently no plans for a separate meeting regarding these suggestions."
Reported by Yun Nara | Video by Kim Heung-ki | Video Editing by Choi Hye-young | Produced by SBS Digital News
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