[Anchor]
Seoul Mayor Oh Se-hoon, during a visit to an urban redevelopment and reconstruction site, emphasized that reconstruction and redevelopment are at the core of housing supply in Seoul. He also stated that housing volume will increase. This marks a direct counter-argument to President Lee Jae-myung's previous remarks expressing skepticism about the supply effects of urban renewal projects.
Reporter Yun Nara has the details.
[Reporter]
During a public town hall meeting on real estate policy held last month, President Lee Jae-myung promised a fast-track approach to housing supply, such as shortening construction periods for the 3rd-phase new towns, while expressing skeptical views on reconstruction and redevelopment.
[President Lee Jae-myung: In the case of reconstruction, there are instances where the number of households increases, but that does not seem to increase significantly either. In the case of redevelopment, it seems common that the total number of moving-in households actually decreases.]
Visiting a reconstruction and redevelopment site in Yongsan today (August 11), Seoul Mayor Oh Se-hoon directly refuted the President's remarks.
[Oh Se-hoon / Mayor of Seoul: The President was misinformed and said that 'in the case of redevelopment and reconstruction, there is no increase in volume, no increase in net growth.' If you come here, (you will see) that this is very clearly a mistaken statement.]
He then highlighted that in the areas of Seogye-dong and Cheongpa-dong in Yongsan-gu, Seoul, where urban renewal projects are underway, existing homes will increase from 6,393 households to 8,088 households, adding 1,695 households.
[Oh Se-hoon / Mayor of Seoul: With nearly 1,700 new homes added, additional housing that did not exist before accounts for 26.5 percent.]
Noting that 59 urban renewal projects completed in Seoul over the past three years have added 20,000 housing units, he projected that another 87,000 units will be added from 253 urban renewal sites where 310,000 units are scheduled to be built by 2031.
Mayor Oh, who sharp-edgedly criticized President Lee by asserting that reconstruction and redevelopment are Seoul's core housing supply tools, also urged the government—ahead of its upcoming real estate supply measures—to raise floor area ratios, ease regulations on relocation expense loans, and provide financial support for urban renewal projects.
(Camera: Joo Beom, Kim Heung-ki | Video Editing: Wi Won-yang)
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