President Lee Jae Myung is holding a second real estate policy review meeting Friday to examine measures related to housing supply.
The session comes just four days after a meeting on Monday, as Lee moves to personally review individual candidate sites and project timelines ahead of a housing supply package expected to be announced as early as next week.
At Friday's meeting, ministries are set to share and review in detail the findings from their examination of the supply measures Lee had previously ordered.
Easing regulations on real estate project financing is also under review as part of a broader financial package aimed at improving funding conditions for private developers and accelerating the pace of supply, sources said.
Lee holds a firm conviction that expanding supply is the top priority for stabilizing the real estate market.
His view is that only a swift announcement of large-scale supply measures in areas preferred by actual homebuyers can effectively calm the market and address concerns about a shortage.
To that end, the government is reviewing plans to supply more than 50,000 new homes, centered on the Greater Seoul area. A specific scenario under discussion would combine that figure with the 60,000 units announced under the Jan. 29 measures — including sites at Taereung Country Club and the Gwacheon Racecourse — to achieve a total supply effect of around 110,000 units.
As part of that effort, measures to revitalize reconstruction and redevelopment projects, as well as deregulation of semi-industrial zones, are also likely to be included to boost housing supply in prime Seoul locations, sources said.
Chief Spokesperson Kang Yu-jung told reporters Thursday that it was difficult to share details on the specific content or timing of the supply package, but added that "various measures are being reviewed in relation to expanding and accelerating housing supply." She said further answers would be available after the second meeting.
Asked whether Cheong Wa Dae and Seoul Mayor Oh Se-hoon hold differing positions on lifting greenbelt restrictions, Kang declined to elaborate, saying she had not officially confirmed the mayor's remarks.
On Monday, Lee returned from an 11-day overseas trip and went straight to Cheong Wa Dae, where he held a seven-and-a-half-hour marathon session on real estate policy. At that meeting, he directed officials to "secure the maximum possible supply volume so that as many homes as can be supplied are delivered as quickly as possible, and to find ways to realize swift supply through all available administrative, financial, fiscal and deregulatory measures."
He also instructed them to arrange follow-up reporting and review sessions on financing and housing supply within the following two days.
sang@heraldcorp.com
