Seoul Mayor Oh Se-hoon to Attend Cabinet Meeting Tomorrow, Plans to Propose Real Estate Policy Changes

Seoul Mayor Oh Se-hoon is prepared to attend a Cabinet meeting tomorrow, July 14, to voice his opinions on the government's real estate policies.

According to the Seoul Metropolitan Government, Mayor Oh will attend the Cabinet meeting presided over by President Lee Jae-myung tomorrow morning in the capacity of an attendee.

Under Cabinet meeting regulations, while the Mayor of Seoul is not a Cabinet member, they may attend when necessary, alongside heads of local governments and other key officials.

It is reported that Mayor Oh conveyed his intention to attend after receiving an inquiry from the presidential office regarding his participation.

This marks Mayor Oh's first attendance at a Cabinet meeting in 11 months, since August of last year, and his first since being elected to a fifth term as Seoul Mayor in the June 3 local elections.

Following President Lee's inauguration, Mayor Oh attended the first Cabinet meeting held in June of last year and was also present in August of last year to participate in the Ulchi Exercise.

Prior to Mayor Oh, former Mayor Park Won-soon also attended Cabinet meetings presided over by former President Moon Jae-in.

During the recent election campaign, Mayor Oh pledged that if elected, he would attend Cabinet meetings to convey public sentiment regarding real estate to President Lee and propose policy recommendations.

Mayor Oh reportedly believes that the government's focus on suppressing demand through tightened regulations on real estate, finance, and loans is exacerbating instability in both the sales and rental markets. He plans to actively propose expanding supply and easing regulations.

Specifically, he is expected to propose a "three-point real estate policy improvement plan," which includes easing real estate-related loan regulations, lifting restrictions on the transfer of status for members of redevelopment and reconstruction cooperatives, and revitalizing supply to resolve the rental housing crisis.

While requesting regulatory easing from the government, Mayor Oh has also pledged to promote housing stability by accelerating the supply of housing, with a goal of breaking ground on 310,000 units by 2031 at the Seoul city level.

However, Mayor Oh plans to explain the situation of the Seoul housing market and emphasize the need for a policy shift in a calm manner, in line with the atmosphere of the Cabinet meeting, rather than adopting a critical tone toward government policy.

Above all, as Mayor Oh is attending as an observer, he must obtain the floor from the chair to express his opinions. Therefore, attention is focused on whether he will actually have the opportunity to convey his views on real estate to the President.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.