Third-generation new towns, urban supply acceleration in spotlight

Policy coordination with Seoul Metropolitan Government seen as key test

Hong Ji-sun, nominee for minister of land, infrastructure and transport [Yonhap]
Hong Ji-sun, nominee for minister of land, infrastructure and transport [Yonhap]

"I will concentrate all policy efforts on housing stability."

Hong Ji-sun, the new minister of land, infrastructure and transport, made the pledge Wednesday morning at her inauguration ceremony at Government Complex Sejong.

In her inaugural address, Hong said housing supply-demand imbalances, instability in the lease market and household debt burdens were all intertwined. "We must shift to a housing policy centered on the field and on practical solutions that can untangle these structural problems," she said.

Appointed as the second land minister under President Lee Jae Myung, Hong visited the Bucheon Daejang district — a third-generation new town site — on Tuesday, the day presidential approval for her appointment was granted, signaling that housing supply would be the central pillar of her agenda. The visit was seen as a show of commitment to the administration's so-called "supply-first, no excuses" drive.

"I will push to accelerate third-generation new town projects and urban housing developments so they translate into actual ground-breakings and move-ins, and I will see it through to the end," Hong said. She added that she would establish multilayered consultative bodies with Greater Seoul local governments to build integrated review and fast-track permitting systems, and work to settle a cooperative housing supply model in which central government institutional support and local autonomy reinforce each other.

The Ministry of Land, Infrastructure and Transport had earlier set a target of breaking ground on more than 1.5 million housing units in the metropolitan area by 2030, of which third-generation new towns and the Seoripul district account for 89,000 units.

Hong also addressed the universal public rental housing scheme — the centerpiece of the ministry's recently unveiled residential stability plan. "I will expand long-term private rentals to create a stable market safety net that can absorb fluctuations in the housing market and jeonse market instability," she said. She added that she would activate universal public rental housing so that more people without homes — including youth and newlyweds — can live with peace of mind in well-located areas such as transit-oriented zones, in quality housing at affordable rents, while also providing close support for the most vulnerable residents.

Tying her remarks to President Lee's "five poles, three special zones" balanced regional growth initiative, which he personally emphasized at a press conference, Hong said she would concentrate urban and architectural special provisions and necessary infrastructure support on major regional hub cities to create new growth centers combining jobs and housing.

Meanwhile, attention is turning to whether Hong can broker an agreement with the Seoul Metropolitan Government to accelerate housing supply in the capital. Her predecessor, Kim Yun-deok, held talks with Seoul Mayor Oh Se-hoon over a housing supply plan for Yongsan Park, but the two sides failed to reach a clear agreement. With President Lee having declared an end to what he called a "real estate speculation republic" and ordering aggressive supply policies, Hong's ability to coordinate policy — she comes from an administrative rather than political background — is seen as a key test ahead.


smh@heraldcorp.com