Seoul mayor says to press ahead with housing supply plan

Seoul Mayor Oh Se-hoon has announced that the city government intends to continue with its housing supply plan, despite ongoing shortages that have led to significant price increases. The municipality aims to break ground on 310,000 housing units by 2031, with 15,000 units already under construction this year. Mayor Oh emphasized that ensuring a steady and ongoing supply of housing is crucial in addressing the city's housing concerns.

He stated that the city has accelerated improvement projects through rapid integrated planning. Mayor Oh also assured that efforts will continue to alleviate site-specific challenges and unfair regulations to ensure a continuous flow of housing supply. Additionally, he pledged to actively address rental housing shortages by expanding the foundation for private sector involvement.