President Lee Jae Myung calls for “all-out” efforts to increase South Korea’s housing supply, directing officials to speed up administrative procedures tied to land preparation and construction permits. Speaking during a Cabinet meeting on Tuesday, he says stable housing is a foundation for improving people’s daily lives and argues that persistent housing price pressures continue despite government attempts to cool the market.
Lee points to disruptions in housing supply, including a decline in housing construction permits and reduced availability of new land for real estate development over the past three years. He links current market problems to multiple factors that have built up over time, and he urges consistent market-management policies alongside large-scale housing supply measures. Outlets also report his instruction to reduce timelines for land development and to grant building permissions more quickly, with the government focusing on removing delays in customary processes.
