President Lee Jae-myung announced that he is reviewing measures to significantly shorten the construction period for third-generation new towns.

During a national public debate on real estate policy held at the KBS Annex in Yeouido, Seoul, President Lee stated, "Looking at the third-generation new towns, the delayed commencement of construction in previously announced areas is a truly serious problem."

He also pointed out regarding the speed of new town construction, saying, "They say it takes some 60-odd months," and criticized, "The administrative pace is far too slow."

In response, President Lee stated, "We are internally reviewing plans to reduce [the construction period] to less than half," adding, "If necessary, we plan to change regulations overall, or carry out procedures in parallel that are normally done sequentially, to try and save some time."

(Photo: Yonhap News)