Seoul government counters claims of ineffective urban regeneration, cites 36% housing increase

The Seoul Metropolitan Government has pushed back against arguments that its urban regeneration policies are failing to contribute to housing supply. City officials assert that these initiatives have actually led to a 36% increase in the number of homes in the areas targeted for regeneration. This statement comes amid a heated political debate between the ruling and opposition parties regarding the causes of rising apartment prices and rental costs in Seoul. The People Power Party has accused the current administration of creating a 'real estate hell,' while the Democratic Party has urged the opposition to cooperate on housing supply legislation rather than just criticizing. Han Byung-do, acting leader and floor leader of the Democratic Party, criticized the People Power Party for making inflammatory remarks about the government's tax reform proposals, stating that baseless criticism will not help stabilize housing for ordinary people. He also pointed to the opposition's alleged obstruction of follow-up legislation to the September 7th supply measures, noting that key bills remain pending in the National Assembly. The city's defense of its regeneration policies suggests a differing view on their impact compared to critics, including Seoul Mayor Oh Se-hoon.

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We cannot move forward even one step toward stabilizing housing for ordinary people and normalizing real estate with baseless criticism that only shouts about supply.