이 대통령 “시한폭탄 같은 부동산…‘잃어버린 20년’ 올 수도”

President Yoon Jae-myeong declared on the 13th that decisive action and resources are needed to resolve the "nuclear bomb-like real estate issue" threatening both the nation and its people. At a press briefing at the Blue House, he emphasized that real estate is a critical issue affecting virtually every aspect of South Korean society. He warned that the real estate bubble has become unsustainable, and if left unchecked, could lead to a "lost 20 years or 30 years" for the country.

President Yoon stressed that a comprehensive effort is required to tackle the real estate problem. He highlighted the importance of adjusting supply, taxation, and financial policies to normalize the market and promote stable housing. He specifically called for "radical and swift supply, fair and rational taxation, and finely tuned financial policies" to achieve these goals.

He pointed out that the current situation has resulted in a severe "supply bottleneck." In the past two years, building permits have been significantly reduced, and construction has plummeted, leading to an unavoidable supply crunch. To address this, he stressed the need for a special effort to bolster supply.

He acknowledged the practical constraints surrounding supply policies and the lengthy lead times. He urged a more aggressive approach to supply, including shortening bureaucratic procedures, allowing unrestricted land acquisition when necessary, and even revising laws and regulations to facilitate rapid development. The government announced its commitment to providing over 230,000 additional housing units in the metropolitan area, including those in designated development-exclusion zones.

Despite the announcement, President Yoon emphasized the importance of continuously refining the policy based on public opinion and feedback. He cautioned against quick changes, stating that such a reactive approach would undermine the policy's coherence. Instead, he advocated for a transparent, collaborative, and iterative process for policy development, involving all stakeholders to ensure a robust and comprehensive solution.