Seoul Mayor Oh Se-hoon: "Yongsan Park Development Would Violate Special Act"

Seoul Mayor Oh Se-hoon expressed opposition on the 15th at the National Assembly Administrative and Security Affairs Committee's audit of government affairs, saying the plan to build housing on the Yongsan Park site would violate the 'Special Act on Yongsan Park.' Oh noted that in a survey conducted by the Seoul Metropolitan Government, nearly half of citizens were opposed to the development of Yongsan Park. The mayor explained that there are obstacles making it impossible to even begin construction within this administration's tenure, noting that soil remediation alone would take at least three to four years and as long as six to seven years.

At the audit, Oh said the primary cause of rising home prices is a lack of confidence in housing supply. He argued that when citizens lack confidence in future supply, speculative buying demand emerges as people rush to purchase homes before prices climb further. He pointed out that the current government's policy of emphasizing actual residence has driven up jeonse and monthly rents, creating a shortage of rental units and pushing people toward buying homes instead.

As ways to accelerate the pace of housing supply, Oh proposed that the government temporarily lift restrictions on the transfer of union membership rights in redevelopment projects for three years and expand support for relocation costs.