[6.3 Issue Spotlight] Why the 'Villa Debate' between Oh Se-hoon and Jeong Won-oh? + Oh Se-hoon's Supply Pledge Today

As the June 3rd local elections approach, the race for Seoul mayor has become a focal point for the critical issue of housing supply, with a heated debate erupting between incumbent Mayor Oh Se-hoon of the People Power Party and challenger Jeong Won-oh of the Democratic Party. The core of their disagreement, framed as 'apartments versus villas,' reflects fundamentally different approaches to tackling Seoul's chronic housing shortage and managing the rental market.

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Apartment redevelopment and reconstruction take 10 to 15 years, but measures can be taken and supply can be provided for the rental market in 2 to 3 years.

Jeong Won-oh has positioned himself as the candidate prioritizing rapid solutions. He argues that while apartment redevelopment and reconstruction projects can take 10-15 years, the rental market can be stabilized and supplied with housing within 2-3 years by focusing on existing non-apartment dwellings like villas and officetels. His policy, dubbed 'Chakchak Development,' aims to quickly supply smaller housing units within the city center, thereby revitalizing the market for such properties. This approach seeks to provide immediate relief to renters and stimulate a segment of the housing market often overlooked in favor of large-scale apartment projects.

Conversely, Mayor Oh Se-hoon emphasizes a strategy centered on large-scale, long-term housing development through redevelopment and reconstruction. He has pledged to facilitate the commencement of 310,000 housing units by 2031, identifying 85 key redevelopment zones for accelerated progress. His administration is proposing streamlined processes, such as simultaneous approvals for project execution and management disposition plans, to expedite construction. This focus on traditional apartment development aims to significantly increase the overall housing stock in the long run, addressing the fundamental supply deficit.

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Ignoring apartment supply, the starting point of the problem, and telling citizens who want to rent apartments to live in villas instead will not solve the problem.

The debate highlights a key tension in urban housing policy: the trade-off between immediate needs and long-term solutions. While Jeong's villa-focused approach promises quicker results for the rental market, it faces challenges related to the declining reputation of the villa market due to past 'jeonse' (lump-sum deposit) scams and concerns about housing quality. Oh's apartment-centric plan offers the potential for greater supply volume but entails a longer timeline and potential issues like resident displacement and gentrification. This election's housing debate is thus not just about building types, but about the pace, method, and ultimate beneficiaries of Seoul's urban development.

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We will focus on concentrated management of 85,000 units in 85 zones that can start construction within three years, aiming for the commencement of 310,000 units by 2031.