President Lee calls for all-out efforts to boost housing supply
President Lee Jae Myung on Tuesday stressed the need to cut the time required for administrative procedures in building homes, calling for all-out efforts to boost housing supply. The president made the call during a Cabinet meeting as runaway housing prices persist despite the government's efforts to cool the market. "Stable housing is the foundation for practical improvements in people's…
President Lee Jae Myung emphasized the urgent need to expedite administrative procedures for housing construction, calling for comprehensive efforts to increase housing supply. This statement came during a Cabinet meeting as soaring housing prices continue despite government attempts to stabilize the market. The president highlighted the decline in housing construction permits and the scarcity of new land for real estate development in the past three years, attributing these issues to the stagnation in housing supply.
To address the current challenges in the real estate market, Lee stressed the importance of implementing consistent market management policies and large-scale housing supply measures promptly. He directed government officials to make concerted efforts to reduce the time taken for land preparation and administrative permit granting for house construction, without being hindered by traditional practices.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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