Hong Nam-gi “Supply of 830,000 metropolitan area units and 5 metropolitan cities … ‘supply shock’ level”

Hong Nam-ki, Deputy Prime Minister for the Economy and Minister for Strategy and Finance, meets with Andreas Bauer, head of the Korean Mission to the International Monetary Fund (IMF) on the 27th at the Gwanghwamun Government Complex in Seoul . on the results of the IMF’s annual consultations. [기획재정부 제공. 재판매 및 DB 금지] Yunhap news

Hong Nam-ki, Deputy Prime Minister of the Economy and Ministry of Strategy and Finance, said on the 4th that “the central content of this plan to expand the housing supply is to supply a total of 830,000 homes by 2025, focused on the metropolitan area and five metropolitan cities “.

On the same day, Vice Premier Hong announced at the government building in Seoul, “Public-led 3080 Plus, a plan to radically expand housing supply in metropolitan areas,” and said this.

Vice Premier Hong said: “The government decided that it is necessary to follow a ‘special supply plan’ that exceeds market expectations in order to completely allay concerns about housing supply and ensure stability in the housing market. We prepare and announced it. “

This measure included a quick review of the laws and regulations for the new supply system, cutting the time required for relocation in half compared to the existing supply method (for example, more than 10 years of rebuilding → less than 5 years).

Vice Premier Hong said: “The development gains generated in the housing supply process will be used not only for infrastructure expansion, but also for the protection of tenants and small traders who may be marginalized in the business process. so they can be shared with the public. ” 830,000 units are roughly twice the annual national housing supply, and the 320,000 units to be supplied to Seoul are also at the level of a ‘supply shock’ that equates to 10% of the city’s housing stock. “

He said: “I am sure that such a huge level of expansion in the housing supply will lead to firm stability in the housing market.”

Vice Premier Hong predicted: “However, since it may take some time for people to experience pre-sale and move, there will be no possibility of temporary market disturbances after the announcement of the measures.”

He said: “We plan to preventively prevent speculative transactions, such as designating permit areas for land transactions in areas with signs of market instability, and if additional measures are needed, we will announce immediately adding prepared high intensity market stabilization measures. “He said.

Vice Premier Hong said: “The government has been working hard to stabilize the housing market by expanding the base of the housing supply, such as the creation of the third new city, the discovery of new housing sites in the metropolitan area and pre-generation measures in parallel with measures to suppress speculation in terms of taxes and loans. ”“ However, we regret the fact that the real estate market has not been reliably settled due to various factors such as the uncertainty of market supply and demand, market liquidity and demographic changes, and I feel very sad. “

He added that “the stability of the real estate market is not only important in terms of the stability of the asset market, but it is also the highest priority to be achieved for the welfare of housing, income equality, work motivation, social stability, etc. “.

Vice Premier Hong said: “On the basis of the determined will of the government, close cooperation with local governments and the active participation of public institutions, we will vigorously implement this measure to ensure that the housing market is stable and well-being people’s housing is realized. “We ask that you believe in the government’s firm will to supply enough” and make serious judgments about the market situation and market share. “