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It was confirmed on the 12th that the party government is reviewing a plan to change the use of residential areas in Seoul as one of the’innovative supply policies’ that the party decided to announce before the Lunar New Year holidays.
Party Policy Committee Chairman Hong Ik-pyo said on KBS Radio that day, “We are discussing measures with the Ministry of Land, Infrastructure and Transport to dramatically increase supply to the metropolitan area centered on Seoul through densification or re-use.”
In this regard, a key official explained, “In Seoul, it is possible to increase the floor area ratio by substituting a general residential area or a commercial area and a semi-industrial area into a residential area.”
In particular, it is observed that if the repurposed plan, which has been pointed out that the procedure is more difficult and more complex than the high-density development plan for low-density dwellings, is actually promoted, the supply volume will be secured in a considerable scale.
It is known that the Ministry of Land, Infrastructure and Transport plans to prepare a plan to change the use of the available land in Seoul and the metropolitan area, and to publicly recover the additional profits generated by it, and report it to the Party soon.
The party government also plans to expand the role of the public sector and minimize side effects in the supply process.
Chairman Hong said, “It is necessary to strengthen the market control capability of public institutions by mixing public quantities including long-term rental housing as well as private-centered supply.”
In-House Representative Tae-nyeon Kim speaking at the in-hospital countermeasure meeting▶ Click here to enlarge
Kim Tae-nyeon, the in-hospital representative, said at the in-hospital countermeasure meeting on the day, “In relation to the housing problem, which is a concern for the public, we will prepare an innovative housing supply plan and announce it before the Lunar New Year holidays.”
The party administration is expected to refine the outline of supply measures before and after the real estate-related ministers’ meeting scheduled on the 15th.
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