Kim Yong-beom, head of the Presidential Office's Policy Planning Office, emphasized the need for extraordinary housing supply measures on the 24th, saying of real estate policy, "We just have to build, no matter what."
At a debate hosted by the Kwanhun Club at the Press Center in Seoul that day, Kim strongly argued for the need for housing supply, responding "I completely agree" to a point that housing supply should be pursued more aggressively. He noted, "When people say the metropolitan housing problem is difficult, I understand that jeonse and monthly rent are difficult, and of course I am concerned. Supply and demand is important, but during the two years of 2023-2024, construction firms involved in supply suffered from high interest rates, so supply preparations are 30-40% less than in normal years. Those results are coming now."
Kim said, "The current stock prices reflect what is called a special boom (centered on semiconductors). Demand has been at its strongest period for two to three years — how difficult a combination these two are. Supply and demand is difficult, while liquidity and the macro economy are improving tremendously, so we are in a highly challenging situation."
Regarding real estate tax regulations, he said, "There is tax fairness, there is housing market stability, and I gave notice that we would study this to fit the purpose. Of course, we are preparing this including state-run research institutes and even cases from other countries." He also said President Lee Jae-myung had mentioned several principles: "He cited various criteria — that actual ownership should be viewed differently from residence and holding, that multiple-home owners and single-home owners should be considered, and that ultra-high-priced properties should also be considered."
Kim conveyed the government's concentration of policy capabilities, saying, "Because the real estate issue is an important task receiving keen interest, the government is mobilizing all its administrative capacity to analyze it, and is genuinely trying to hear diverse opinions." He continued, "It is a considerably difficult phase macroeconomically, and from the standpoint of stable management, taxation is also important," suggesting the possibility of public deliberation by adding, "We are trying to hear a great many views. We intend to make policy decisions while listening to diverse opinions, including from mom cafes, and holding public discussions if necessary."
