Regarding the government's review of plans to supply housing on the Yongsan Park site in Seoul, Ha Jun-kyung, Senior Presidential Secretary for Economic Growth, emphasized the importance of making good use of this prime land and raised the possibility of creating "youth housing."

Appearing on TV Chosun's News Parade today (August 19), Senior Secretary Ha noted that the size of Yongsan Park, a large green space in downtown Seoul, spans 910,000 pyeong, which is larger than Yeouido, stating, "Making this entire vast tract of land solely into a park is rare on a global scale, and managing it would also be difficult.

There is a need to discuss how best to utilize it," he said.

He continued, "Parks are meaningful when many people use them, but the Yongsan Children's Garden area is not frequented by many visitors," adding, "Even if we wanted to make it like Central Park, the ground is heavily contaminated, and removing it would cost trillions of won."

At the main time, he added, "Building housing there does not mean we will not build a park.

Instead, a park of an appropriate scale has higher usability, while we must also pass down a good living space to future generations."

Ha also stated, "Parts of [Yongsan Park] can become a park, and while I used the expression rental housing for other parts, I think it will be 'youth housing.'"

He pointed out that selling housing to the private sector has clear limitations in improving the residential environment of the younger generation.

Regarding the differing views between President Lee Jae-myung and Seoul Mayor Oh Sehoon during the Ulji Cabinet meeting yesterday (August 18) over easing regulations on reconstruction and redevelopment, he said, "We are not opposed to reconstruction or redevelopment.

However, [Mayor Oh] asked to raise project profitability, so we are examining whether this might affect rising home prices."

On measures for jeonse (lump-sum housing deposits) and monthly rent, he introduced, "It is true that shrinking supply is putting pressure on the jeonse and monthly rent market. We are exploring ways to increase supply in the short term."

Regarding criticisms that tax system revisions are further fueling the jeonse and monthly rent difficulties, he stated, "The tax system was revised from the perspective of fair taxation, and we do not expect [the burden] to be passed on to the jeonse and monthly rent sectors."

Addressing concerns over a lack of consistency in lending regulation policies and others, he said, "We do not believe we lack consistency. Our stance to redirect financial resources excessively concentrated in real estate toward productive sectors remains consistent," adding, "However, whenever unfair cases arise along the way, we provide pin-point supplements."

When asked whether changing the park's designation for alternative uses could pose procedural issues, Ha suggested, "If there is a public interest purpose, we can also consider methods such as excluding it through deliberation [allowing exceptions]."

As opinions are divided over the housing plan for Yongsan Park, it has been reported that the ruling bloc is also considering conducting a public opinion poll.

In response, Cheong Wa Dae explained, "Regarding the utilization of Yongsan Park, the Ministry of Land, Infrastructure and Transport is currently holding social discussions, including consultations with related agencies and gathering public opinions," while adding, "No specific methods, entities, or timing for gathering opinions, such as a public opinion poll, have been decided at this point."

(Photo: Yonhap News)