Oh Se-hoon and Kim Yong-beom discuss housing supply measures utilizing semi-industrial areas

On the 5th, Seoul Mayor Oh Sehoon and Presidential Chief of Staff for Policy Kim Yongbeom met to discuss ways to expand housing supply by utilizing semiindustrial zones in Seoul’s Guro and Yeongdeungpo districts. As the government is expected to announce additional housing supply measures for the Seoul metropolitan area as early as next week, this marks the first highlevel consultation between the Seoul Metropolitan Government and the central government. The two had lunch at a restaurant in Seoul’s Jung district and exchanged views on ways to increase housing supply in the city center. Chief Kim mentioned the need to expand supply by utilizing semiindustrial zones, while Mayor Oh suggested that the Ministry of Land, Infrastructure and Transport should ease regulations. In particular, they discussed the idea that reducing the proportion of factories in semiindustrial zones could increase the capacity for housing supply. After the meeting, Mayor Oh conveyed concerns about possible side effects of the government’s real estate measures and emphasized the need for prior consultation with the Seoul Metropolitan Government. It was reported that he also stated it would be difficult to cooperate with supply measures that rely on lifting greenbelt restrictions. President Lee Jaemyung is scheduled to chair the second real estate policy review meeting on the 7th, and the meeting is expected to discuss ways to utilize vacant land in downtown Seoul and semiindustrial zones, as well as additional supply volumes.