이 대통령 “2022년부터 공급 절벽…법, 제도 고쳐서라도 파격적 공급”

President Yoon Jae-myung emphasized on the 13th that South Korea needs to take a "holistic all-out effort" in the real estate supply crisis, stating that "we cannot leave the real estate bubble to chance any longer." He warned that the current high property prices in the country could lead to a "lost 20 years" or "lost 30 years" if the situation persists, as it could become a "bargain bomb" threatening the nation's future.

President Yoon urged for the utilization of every available tool and capacity to resolve the real estate issue, cautioning against being "trapped" by existing laws and regulations. He noted that the 2022 year onwards has witnessed a significant supply shortage, with applications for building permits dwindling and construction projects drastically reduced, leading to an unavoidable supply crisis.

His remarks follow Seoul Mayor Oh Se-hoon's stance on the greenbelt issue, where he said "I wouldn't be able to do it even if I died," emphasizing the need for "exceptional efforts" to fill the gap, including shortening various permit procedures and acquiring land without being bound by existing regulations if necessary. The Greenbelt Exemption Law's implementation in the metropolitan area allows local governments to delegate this authority to the mayor.

President Yoon also highlighted the possibility of revising the 8·3 Tax Reform Bill, stating that gathering the opinions of the public, experts, opposition parties, and the political elites is crucial to enhancing the policy's completeness.