Candidate Hong Ji-seon: Lifting the land transaction permit zone should be considered after housing price index declines

Hong Jiseon, the nominee for Minister of Land, Infrastructure and Transport, stated at the National Assembly confirmation hearing on the 16th that the lifting of land transaction permit zones should be reviewed after housing price indexes decline and the market stabilizes. Regarding the land transaction permit zones applied to all of Seoul and parts of the Seoul metropolitan area, he said he would consider both the policy’s effects and side effects, citing past cases in which home prices rose again after the designation was lifted. In response to criticism that land transaction permit zones dampen transactions, he said they also play a positive role. The nominee Hong left open the possibility of using part of Yongsan Park as a site for housing supply, but explained that no specific site or volume has been decided. He also emphasized that predictability and consistency are important in real estate policy, and regarding the delay in the opening of GTXA Samseong Station due to missing rebar, he stated that the government plans to file a claim for indemnity against the Seoul Metropolitan Government.