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| Kim Jong-in, Chairman of the National Power of the People’s Forces, attends the 3rd On-Tact Policy Workshop held at the National Assembly in Yeouido, Seoul on the afternoon of the 12th, and listens to all comments from the House Representative Joo Ho-young. 2021.1.12/News1 © News1 Reporter Park Se-yeon |
On the 13th, Jong-in Kim, Chairman of the People’s Strength Emergency Response Committee, suggested six ways to solve the real estate problem in Seoul, which has emerged as a key issue in the 4/7 mayoral by-election.
Chairman Kim held a’press conference for real estate normalization measures’ at the National Assembly this afternoon and said, “The power of the people is the power of the people as a ruling party, overcoming the failure of the Moon Jae-in government’s real estate policy, and looking for ways to normalize real estate from various angles.” “We want to present real estate plans tailored to the future vision of the global city of Seoul,” he said.
The plan suggested by Chairman Kim was △Development of high-density and high-rise downtown through revitalization of reconstruction and redevelopment projects △Expand supply volume through securing urban housing sites △Relieve tax burden due to the abolition of the capital gains tax system △Resolve chronic traffic difficulties △Remediate the public price system △ There are six things, including support for housing purchases for homeless people.
Chairman Kim said, “The Moon Jae-in administration and the late Mayor Park Won-soon have created an imbalance in the supply and demand of new homes that artificially prevented reconstruction and redevelopment despite the rapid deterioration of downtown Seoul.” It was abolished and about 250,000 houses were not properly supplied.”
He emphasized that “regulations that prevented reconstruction and redevelopment, such as raising the floor area ratio standard in Seoul, which is lower than the law, adjustment of safety diagnosis standards that do not reflect the reality, abolition of the pre-sale price limit, and realization of excessive reconstruction excess profits, should be resolutely.”
Regarding the expansion of supply, “We propose a plan to move or cover the railroad car base located in downtown Seoul further to the outskirts and use it as an upper housing site,” he said. “In addition, through the undergroundization of major arterial roads and railroad facilities passing through the city center, It is also necessary to actively consider how to use land as residential land.
Pointing out that the housing transaction contracted due to the tax burden, he said, “As it is the only option in the situation where short-term supply expansion is needed, easing the transfer tax will be a meaningful policy revision.” “We will cut the employment registration tax for first-time home buyers and adjust the standards for imposing health insurance premiums.”
Chairman Kim also said, “In addition, policies for easing comprehensive tax burdens, such as lowering the tax, lowering the property tax rate, and adjusting the standard amount of the tax, should also be implemented.”
As a way to relieve traffic difficulties, “Install a large roundabout at the basement of Yongsan Park in the center of Seoul to disperse traffic and reduce commuting time by constructing an additional underground alternative road in the main arterial road in the metropolitan area, which is mainly used for commuting. It should be shortened to,” he suggested, “Let’s minimize blind spots in the subway by expanding the disconnected urban railroad traffic network in the Seoul area, and establish a new metropolitan road connected with the 1st, 2nd and 3rd new cities.”
Chairman Kim said, “The public price verification center should be established to ensure that the public price ceiling rate is stipulated by law by re-adjusting the current public price calculation system under the jurisdiction of the Ministry of Land, Infrastructure, and Transport into a government-wide management system.” “Let’s improve the DTI and LTV regulations for homeless home purchases to improve financial institution autonomy, expand special supplies for the first time in the lives of newlyweds, and introduce a shared equity mortgage system to support home purchases.”
Chairman Kim said, “The failure of real estate policy over the past four years has clearly indicated what real estate policy the people want and in which direction to go.” “The people’s strength will do their best so that the policies presented today can be realized as soon as possible. On the other hand, we will announce it as a pledge for re-election on the 4th and 7th through more detailed review and supplementation.”