The Ministry of Land, Infrastructure and Transport will hold a forum on housing supply on Tuesday. The Financial Services Commission will host a session on housing finance regulations on Wednesday, and the Ministry of Economy and Finance will discuss real estate taxation on Thursday. Pictured is a notice related to real estate taxes posted outside a real estate agency in Seocho-gu, Seoul, on Tuesday. [Yonhap]
The Ministry of Land, Infrastructure and Transport will hold a forum on housing supply on Tuesday. The Financial Services Commission will host a session on housing finance regulations on Wednesday, and the Ministry of Economy and Finance will discuss real estate taxation on Thursday. Pictured is a notice related to real estate taxes posted outside a real estate agency in Seocho-gu, Seoul, on Tuesday. [Yonhap]

The government has begun gathering public input as it works to shape a new real estate policy.

The plan calls for a series of topic-specific forums covering housing supply, finance and taxation, followed by an online feedback channel, before the president convenes a major real estate forum on July 23.

The Ministry of Economy and Finance announced Tuesday that it was launching a public participation process to collect diverse opinions and jointly explore policy directions for real estate measures that reflect broad public consensus.

The government will hold three consecutive days of topic-specific forums from Tuesday through Thursday. The Ministry of Land, Infrastructure and Transport will lead Tuesday's session on housing supply and related regulations, the Financial Services Commission will take up housing finance on Wednesday, and the Ministry of Economy and Finance will address real estate taxation on Thursday.

Cabinet ministers from the relevant ministries will attend each forum, where field experts will present policy overviews and key issues before opening the floor to discussion. All sessions will be livestreamed, and attendees will be free to propose directions for policy improvement and regulatory reform on the spot.

For those unable to attend in person, the government is also opening an online feedback portal at 부동산토론회.kr starting Tuesday. Any member of the public can choose a topic — housing supply, housing finance or real estate taxation — and submit views on the major issues under discussion.

The government will compile input gathered through both the in-person forums and the online portal before convening the presidential real estate forum on July 23. The event will build on pre-collected online and offline opinions with additional questions and debate, and will map out future policy directions and areas requiring further work.

Among the issues expected to be discussed are easing regulations on private-sector redevelopment and reconstruction projects, making use of idle urban sites such as the Yongsan International Business District, expanding residential finance support for youth and newlyweds, adjusting jeonse loan guarantee ratios, and overhauling property holding taxes, the comprehensive real estate tax and capital gains tax.

"We will broaden opportunities for public participation in the policymaking process, actively review the opinions raised and use them to improve the system," the government said, adding that it plans to maintain ongoing communication with the public even after policies are announced.


fact0514@heraldcorp.com