[EXPLAINER] Why Yongsan Park is Seoul's newest housing battleground

Seoul is facing a housing crisis, with soaring home prices making it difficult for young people to find affordable housing. In search of a solution, the government is considering using Yongsan Park, a proposed green space in central Seoul, as a site for new housing construction. Former U.S. military garrison, the park is roughly the size of Yeouido and measures 3 square kilometers.

The idea has sparked controversy, as it pits the central government against Seoul Mayor Oh Se-hoon. While the government sees the site as a potential solution to the housing shortage, Oh argues that preserving the park as the city's last major green space is more important. The government insists that redevelopment of the area is necessary to expand the housing supply and prevent further increases in home prices.

At a recent Cabinet meeting, President Lee Jae Myung directly addressed Oh's concerns, arguing that focusing on redeveloping aging buildings could fuel speculative demand and lead to another sharp rise in home prices. The government appears determined to push ahead with discussions about the redevelopment of Yongsan Park, despite the political and environmental implications.