South Korean ministerial nominee vows to speed up housing supply
In South Korea, Hong Ji-seon, the nominee for minister of land, infrastructure and transport, said he would mobilize all available resources to accelerate housing supply and stabilize the market. He made the statement on Wednesday during a confirmation hearing at the National Assembly in Seoul, amid concerns over rising housing prices in the metropolitan region.
Public and business resources
As The Korea Herald reports, Hong Ji-seon pledged to use public- and private-sector resources to speed up housing supply in areas where people want to live. According to him, the work will continue until there is sufficient supply in such areas.
The nominee also said he would use his experience in local government to remove practical obstacles to implementing policy. Among such problems, he cited delays in obtaining permits and approvals.
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Support and regional development
Hong Ji-seon pledged to strengthen housing support for young people and newlyweds, as well as provide better protection for vulnerable groups, including elderly people and victims of rental deposit fraud.
Separately, he described balanced regional development as a matter of national survival. According to him, the government will support large-scale projects to create advanced industrial hubs outside the Seoul metropolitan region.
