Amid hints from the government on utilizing the Yongsan Park site for housing supply, Seoul-based lawmakers from the Democratic Party of Korea stepped up to support the government on the 20th by highlighting the necessity of resolving youth housing issues.

During the process, they actively raised the need to utilize additional tax revenue from the semiconductor boom, explaining that developing Yongsan Park would not damage green spaces.

Seoul-based lawmakers of the Democratic Party held a meeting today at the National Assembly focusing on youth housing shortages, alongside Seoul Metropolitan Council members from their party.

Rep. Kim Young-bae (Seongbuk-gap), head of the Seoul City Party, presented the principle for resolving the youth housing issue as "supplying as quickly as possible at an affordable price," and added, "In that sense, discussions have recently begun on utilizing some parts of the returned U.S. military base within the Yongsan Park site for youth housing."

He stated, "Because state-owned Yongsan Park land is the most reliable and core supply tool that the government can use to adjust volume the moment construction begins, it is a very useful and viable tool for public housing aimed at young people and newlyweds."

He further explained, "This does not mean destroying the green space itself at all," adding, "Our intent is to review supply for areas that have already lost their green functions, such as officer quarters, military apartments, and the former Defense Acquisition Program Administration site, as well as returned U.S. military base sites near subway stations."

Regarding Seoul Mayor Oh Se-hoon of the People Power Party opposing the Yongsan Park development and instead proposing redevelopment and reconstruction as a solution to housing issues, Rep. Kim said, "The average duration for maintenance projects currently announced by Seoul itself is 18 years," adding, "Politics that simply tells people to 'wait' any longer will not gain public support."

He argued, "Nevertheless, Mayor Oh is repeatedly recycling talk of redevelopment and reconstruction over and over," and urged, "Mayor Oh should also cooperate with the government rather than just making excuses."

Secretary-General Han Jeong-ae (Gangseo-byeong) mentioned expectations for tax revenue expansion due to the semiconductor boom and promised, "We will strive at the government and National Assembly levels to formulate unprecedented housing supply measures and plans using this unprecedented tax revenue."

Rep. Oh Gi-hyung (Dobong-eul) also suggested at the meeting, "Shouldn't we boldly invest around 20 trillion won of the tax revenue to actively use for youth housing supply?" adding, "We can boldly use it for public-centered housing supply, tax support, and loan interest support."

Rep. Kim Dong-a, representing Seodaemun-eul, pointed out, "To live in a decent studio apartment or officetel in my constituency, you have to pay 1 million won in rent. That amounts to a staggering 12 million won a year."

Rep. Kim emphasized, "That is an amount that would cause every landlord to revolt if that much comprehensive real estate holding tax were levied," adding, "We need groundbreaking supply measures where youth housing towns are established at key regional hubs so that university students and young people can live together."

(Photo: Yonhap News)