Land minister nominee vows faster housing supply amid rising home prices
Hong Jee-sun, nominee for land, infrastructure and transport minister, said Wednesday he will mobilize all available resources to accelerate the housing supply and stabilize the market. Hong made the remarks during a parliamentary confirmation hearing amid growing public concerns over rising home prices in the Seoul metropolitan area. "I will mobilize both public and private sector resources to…
Hong Jee-sun, the nominee for land, infrastructure and transport minister, pledged to expedite housing supply and stabilize the market during a parliamentary confirmation hearing on Wednesday. Concerns over soaring home prices in the Seoul metropolitan area prompted Hong's remarks. He assured that he would mobilize both public and private sector resources to increase housing supply in areas where people desire to reside.
Drawing upon his experience in local government, Hong promised to tackle on-the-ground challenges, such as delays in permits and approvals, to enhance policy implementation. Additionally, he committed to bolstering housing support for young individuals and newlyweds, while offering enhanced protection for vulnerable groups, including senior citizens and those affected by rental deposit fraud.
Hong emphasized that balanced regional development is crucial for national survival and pledged the government's support for large-scale projects aimed at establishing advanced industrial hubs beyond the Seoul metropolitan area.
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