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Former Minister of Lands, Infrastructure and Transportation, Kim Hyun-mi, resigned after 1285 days of inauguration. Former Minister Kim apologized for failing to stabilize house prices through Imsa Lee, calling it an “unfinished business,” but added that it “will come into effect soon” regarding the three rental laws. The new minister Byun Chang-heum, who succeeded him, has put forward various ideas in terms of housing supply, but has professed that regulations such as the tenancy law will continue, so no policy changes are expected in a broad framework by the moment.
Former Minister Kim said through Lee Imsa, announced on the 28th, “I feel very heavy and regret that I left without making a promise to ease my worries at home.” “However, as the Third Leasing Law, which guarantees the residence rights of tenants from 2 to 4 years, was passed in 31 years after expanding the supply base of 1.27 million homes in the metropolitan area, housing stability for our people will surely become a reality in the near future. I believe. “This is no different from former Minister Kim’s earlier comments,” Jeonse’s crisis will find stability over time. ”
During his tenure, he expressed his satisfaction with the elaborate policy of expanding public rental housing. “This year is a very significant year to achieve 8% of the stock rate of long-term public rental housing in advanced countries,” he said. “It will be of great help to 8 million homeless households, with 2 million in 2022 and 2.4 million in 2025.” Mentioned. He emphasized that the government raised the fund for the construction of public rental housing to nearly 20 trillion won (based on next year’s budget), which produced results by mentioning the number of public rental housing that will increase.
The government’s policy direction, with the focus on the Leasing Law and the expansion of public rental housing, is expected to remain unchanged even after the inauguration of the new Minister Byeon. Minister Byeon has the idea that real estate regulations should be kept for people with multiple households.
Regarding the deregulation plan for private reconstruction and redevelopment, he said, “Relief from regulations solely for expansion of housing supply without an appropriate development earnings return device may have side effects.” He insisted. Regarding home loans and tax regulations, Byun said that these regulations are necessary to cut investment demand in the real estate market and ensure a healthy economy. In particular, he suggested a plan to more actively operate regional regulations, such as areas subject to adjustments.
However, Minister Byeon is presenting a variety of ideas that did not exist in the way of supplying housing in central Seoul. Minister Byeon assured that there would be enough space to build more houses in Seoul and suggested high-density development plans for low-rise residential areas such as station areas, semi-industrial areas and villas. Regarding the development of the Seoul station area, it was also suggested that the area of the station area could be expanded to a radius of 500m, and the floor area ratio could be increased to 300%.
In addition, it is a project to be developed through the use of semi-industrial areas to move the factory and increase the ratio of built area from the current 300%.
In the process of serving as the president of the Seoul Urban and Housing Corporation (SH Corporation) and the Korea Land and Housing Corporation (LH), he is also interested in how to supply self-owned public housing such as rental housing and buy conditional homes. Rental housing is a method where ownership of the land is owned by the public, like LH, and only the buildings are sold. Tenants only have to pay the land use fee, so the burden is light. A home with repurchase condition is a home with the condition that the person who sold the home for sale then resells it to a public institution. It should be noted whether it will be possible to end the “subscription to the lottery” promoted by a speculative board aimed at citizens who entered the Moon Jae-in administration.
Meanwhile, that day, the Ministry of Lands, Infrastructure and Transport distributed former Minister Kim Imsa Lee at 5:05 pm. According to the explanation of the Blue House, the time when President Moon Jae-in approved the appointment of the new Minister Byeon Chang-heum was at 5:23. In the end, President Moon held the resignation ceremony 23 minutes before the official appointment of the new minister and distributed the resignation to reporters in advance in time for his home. Minister Byeon’s inauguration ceremony is scheduled to take place at the Sejong Government Complex on the afternoon of the 29th.
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