President Lee: "Will Boost Real Estate Supply as Quickly as Possible, Checking Progress Weekly"

▲ President Lee Jae-myung answers questions from reporters at a press conference held at the Cheong Wa Dae State Guest House on September 18.

Regarding real estate policy, President Lee Jae-myung stated, "We will increase supply as quickly as possible through site development including building permits, reconstruction, redevelopment, and urban renewal."

After making these remarks at a press conference held at the Cheong Wa Dae State Guest House, President Lee explained, "The Prime Minister's Office is checking on this daily, and I receive weekly reports to check progress at specific locations."

He also projected, "We are expanding financing as much as possible for areas that can increase housing supply," adding, "Therefore, supply will increase significantly."

He also said, "Because we will take all possible measures regarding regulations, supply, and taxation while examining every aspect, the real estate market will gradually stabilize," adding, "However, we are also preparing and implementing our own detailed policies for the difficulties experienced by jeonse and monthly rent tenants in the margins."

He emphasized, "Breaking away from South Korea's myth of real estate invincibility and the 'real estate republic' is a core task of this administration," adding, "Others tried and failed, but let me be clear: this administration will do it."

Regarding the cause of soaring real estate prices, President Lee cited concentration in the capital area as the fundamental cause, noting, "Along with policy issues, the myth of real estate invincibility is also a major cause."

He added, "Looking at short-term causes, the number of permits and construction starts was cut in half starting in 2022, the year the Yoon Suk Yeol administration took office and Mayor Oh Se-hoon was elected," noting, "From that point until 2025, supply was reduced by nearly half."

When asked, 'You once said that the jeonse system is a system that should disappear; do you still think so?', President Lee responded, "I said it would disappear, when did I say it should disappear?"

(Photo: Yonhap News)

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