-Byeon Chang-heum’s homeland, finally a speech
-文 “I need to finish basic work for housing supply”
-Legislative legislation this month, unclear until June
-LH business reduction prospects… Adverse business impact
-Formation of TF to eradicate land speculation by public officials
-Simultaneous review of real estate registration and reporting system
By 2025, the government’s ‘2nd and 4th measures’, which attempted to supply 830,000 homes nationwide, including 18,000 houses in Daejeo-dong, Gangseo-gu, Busan, faced a crisis of power loss. This is because the Ministry of Land, Infrastructure and Transport, the main department, has announced his intention to resign, and the project subject, the Korea Land and Housing Corporation (LH), has been subject to restructuring or dismantling due to suspicion of employee speculation on land.
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| Minister of Land, Infrastructure and Transport Byun Chang-heum attends the LH follow-up ministerial meeting held at the Seoul Government Complex on the 14th. yunhap news |
According to politics on the 14th, the Minister of Land, Infrastructure and Transport Byun Chang-heum expressed his appreciation to President Moon Jae-in on the 12th. In response, President Moon said, “I think we have no choice but to show responsibility,” and said, “However, we must complete the basics of public housing-type measures led by Minister Byeon.” Accordingly, it is expected that Minister Byun will be able to maintain his incumbent position until the time when related laws such as the 2nd and 4th countermeasures and the Special Act on Public Housing are prepared. The government and the ruling party originally planned to take these bills into effect before June after they were handled by the National Assembly in March.
However, the proposed amendment to the Special Act on Public Housing was not even presented at the National Assembly’s National Land Transportation Committee’s general meeting held on the 12th. In addition, as the LH crisis is spreading to one wave or another, it is difficult to expect rapid treatment at this time. Even if the bill is passed, the head of the Ministry of Land, Infrastructure and Transport has become the’Minister of Time and Time’, so it is questionable whether or not it will be dealt with.
The government’s discussion on reorganization of LH also emerged as a variable. Currently, it is expected that LH’s development-related tasks will be reduced and some authorities will be transferred to local governments, but there is also an extreme prospect that a new organization will be formed after LH is dismantled. Therefore, no matter what conclusions are drawn in the future, LH’s reorganization will inevitably have an impact on the execution of the second and fourth measures. In particular, as the morality of LH has declined and the public’s trust in housing policies has fallen together, the burden on the government is too high to continue pushing the housing supply led by LH.
Along with this, the government is starting to come up with measures to prevent the recurrence of the LH incident this week. The Ministry of Strategy and Finance established a task force (TF) and began to devise a plan to eradicate real estate speculation by public officials. The TF is considering a plan to promote both the real estate registration system and the reporting system. The registration system is a way to regularly register real estate property of public officials and executives and employees of public institutions related to real estate policy. In the case of real estate policy related persons, the plan to expand the target of the current’mandatory property registration system for public officials’ based on the current level 4 or higher to public officials under level 5 and executives and employees of public institutions is promisingly discussed.
Reporter Yeom Chang-hyun and Lee Seok-ju [email protected]