Ruling party focuses on supply measures; opposition criticizes government policies ahead of June elections
Controversy over the government’s October 15 real estate measures has intensified, with the ruling and opposition parties each launching their own task forces on the 21st. Ahead of next June’s local elections, real estate issues have emerged as the top priority.
The Democratic Party of Korea announced the formation of a “Housing Market Stabilization Task Force (TF)” on the same day. The ruling party plans to stabilize the real estate market by unveiling large-scale supply measures within the year.
Policy Committee Chairman Han Jeong-ae, a three-term lawmaker leading the TF, stated, “We will swiftly legislate follow-up tasks within the regular National Assembly session and do our best to supply housing that meets demand.” She added, “By December, we will prepare detailed housing supply plans, including specific supply schedules for each city, county, and district.”
Chairman Han mentioned a plan to directly supply apartments on public housing sites developed by the Korea Land and Housing Corporation, saying, “Depending on the location, apartments could be supplied at nearly half price.” She also emphasized, “As a follow-up to the September 7 measures, we will focus on detailed housing supply plans and institutional improvements or land development.”
The Democratic Party’s TF includes seven members: Lee Hae-sik (Standing Committee on Public Administration and Security), Jeong Tae-ho and Kim Young-hwan (Standing Committee on Planning and Finance), Park Sang-hyeok (Standing Committee on Legislation and Judiciary), Bok Gi-wang, Cheon Jun-ho, and Ahn Tae-jun (Standing Committee on Land, Infrastructure, and Transport).
The People Power Party launched a “Real Estate Policy Normalization Special Committee.” Representative Jang Dong-hyeok was appointed as its chairman. On the day, Jang stated, “The real estate policies of the Lee Jae-myung government are repeating the failed policies of the Moon Jae-in administration. If this continues, real estate prices will remain uncontrollable, and side effects will only grow. We formed this special committee to prepare party-level countermeasures.”
Policy Committee Chairman Kim Do-eup was named vice chairman of the committee, while Park Soo-young, Kang Min-kyung, and Kwon Young-jin — floor leaders of the National Assembly’s Standing Committee on Planning and Finance, Standing Committee on Legislation and Judiciary, and Standing Committee on Land, Infrastructure, and Transport, respectively — were appointed as members. Additionally, second-term lawmakers Jo Eun-hee, Kim Eun-hye, and Jo Jeong-hoon, along with Shim Kyo-eon, former head of the Korea Research Institute for Human Settlements, joined as committee members. A party spokesperson explained, “Representative Jang’s role as committee chairman signifies the party’s prioritization of real estate countermeasures.”
