Koo Yoon-cheol signals expanding housing supply using greenbelt areas and military facilities

Deputy Prime Minister and Minister of Finance and Economy Koo Yooncheol said that he is reviewing plans to partially lift greenbelt restrictions and make use of military facilities in order to increase housing supply. Appearing on KBS News on the 3rd, Deputy Prime Minister Koo explained that supply measures are being prepared within the possible scope, including sites near subway stations and military facilities owned by the state. He said that related details could be reported to the public soon. These remarks came shortly after the Ministry of Finance and Economy announced its 2026 tax reform plan. The reform plan excludes homes valued at 2 billion won or less among singlehome owners from the comprehensive real estate tax, while increasing the tax burden on owners of highpriced homes. It also includes measures to ease the heavy capital gains tax burden on multihome owners. Deputy Prime Minister Koo explained that the adjustment to the tax burden was a normalization of portions that had been taxed lower than before, and said that the easing of the heavy capital gains tax burden on multihome owners includes a grace period to reflect public opinion.