Oh Se-hoon vows 'not a single centimeter' of Yongsan Park for housing as Reuters spotlights Seoul supply clash

Reuters has turned a spotlight on the standoff between the central government and the Seoul Metropolitan Government over whether to use part of Yongsan Park for housing. Seoul Mayor Oh Se-hoon reiterated his opposition, saying he cannot yield "not even a single centimeter" of the park site for apartment construction.

According to the Seoul Metropolitan Government, Reuters conducted an exclusive interview with Oh on Thursday and published a story that day under the headline "Seoul's green space a battleground for mayor and South Korea's president."

The report examined the divide between President Lee Jae Myung and Mayor Oh over Seoul's housing shortage and the preservation of green space. It described a clash between those who want to use part of the roughly 300-hectare Yongsan Park site for housing and those who insist it must be preserved as a park.

"There are still differences of opinion surrounding Yongsan Park," Oh said in the interview. "Under no circumstances can I agree to using this site for apartments."

Reuters described the Yongsan Park site as a former military base near the Han River that Japanese and then US forces used for more than a century before it was designated for development into a public park. It noted that the site is protected under current law and that any housing construction there would require legislative action by the National Assembly.

Oh also highlighted Seoul's shortage of green space. He described Seoul as "a city of water and mountains," but said residents do not have enough accessible greenery in their daily lives. "About 60 percent of Seoul residents live in apartments, and the level of green space available to citizens is about a quarter of London's," he said.

The Reuters piece also covered Oh's criticism of the government's real estate policies. Oh said mortgage regulations and tax increases have failed to sufficiently suppress housing demand and have instead pushed up jeonse and monthly rent prices. He said the loan restrictions place a disproportionate burden on young people and first-time homebuyers.

President Lee, for his part, said at a recent press conference that the number of permits issued and construction starts in Seoul had fallen compared with the past, pointing to the city government as a factor in the housing supply shortage. Reuters noted that the central government and Seoul city hall hold divergent views on both the causes of and solutions to the housing crunch.

Reuters noted that Seoul's population density of about 16,000 people per square kilometer exceeds that of London, New York and Tokyo, underscoring the urban policy challenge of simultaneously addressing housing supply and green space preservation.

With home prices continuing to rise, debate persists over the use of Yongsan Park and over real estate policies including loan regulations and tax measures.