Prime minister to chair new pan-government housing supply review body

The government will establish a new pan-government housing rapid supply review body chaired by the prime minister to directly oversee supply timelines and coordinate major inter-agency issues, the head of the Office for Government Policy Coordination said Thursday.

Lim Gi-geun, director general of the Office for Government Policy Coordination, made the announcement at a joint government briefing at Government Complex Seoul, following presentations by the Ministry of Land, Infrastructure and Transport and the Financial Services Commission. "The key is execution," he said.

Lim said the second deputy director general of the Office for Government Policy Coordination would conduct preliminary reviews of key issues through a working-level rapid housing supply meeting, while a rapid supply innovation task force — headed by the first vice minister of the Ministry of Land, Infrastructure and Transport — and a rapid permitting support center would provide close on-the-ground assistance.

He added that a dedicated housing rapid supply monitoring team within the Office for Government Policy Coordination would work with related ministries to track the progress of individual projects from the field level on an ongoing basis, with a housing supply dashboard to be set up for tight management by issue, district and week.

"We will establish a pan-government housing supply monitoring framework that continuously checks implementation and promotes inter-agency collaboration so that the measures can be pursued with momentum," Lim said. "Matters requiring collaboration will be swiftly coordinated through meetings chaired by the prime minister or the deputy prime minister for economic affairs, depending on their significance."

Lim said close cooperation from a wide range of actors — including not only the central government and public institutions but also local governments and financial institutions — was essential for the successful implementation of the measures. "The prime minister's office, relevant ministries and agencies will work together to support swift pan-government policy implementation," he said.

Wrapping up the briefing, Lim said the measures could be defined by three keywords: "supply, execution and speed, and an all-out pan-government effort."

The government on Thursday announced a rapid housing supply plan centered on adding more than 230,000 housing units in the Greater Seoul area.