Both the ruling party and the opposition party criticized the retraction and reassignment of the land transaction permit zone (the Land Permit System) by Seoul Mayor Oh Se-hoon, saying it caused confusion in the market.

Kim Nam-geun and Park Ju-min, members of the Democratic Party, are holding a press conference condemning the irresponsible administration of Seoul Mayor Oh Se-hoon regarding the lifting and reassignment of the land transaction permit area at the National Assembly's communication hall in Yeouido, Seoul, on Nov. 21 morning. /Courtesy of News1
Kim Nam-geun and Park Ju-min, members of the Democratic Party, are holding a press conference condemning the irresponsible administration of Seoul Mayor Oh Se-hoon regarding the lifting and reassignment of the land transaction permit area at the National Assembly's communication hall in Yeouido, Seoul, on Nov. 21 morning. /Courtesy of News1

The special committee for New Seoul of the Democratic Party of Korea (Chairperson Park Joo-min, Commissioners Kim Nam-geun and Oh Gi-hyeong, etc.) held a press conference at the National Assembly Communication Center on the 21st, criticizing, "Many damages are expected due to the erratic land policy of Mayor Oh Se-hoon."

They mentioned that Mayor Oh lifted the so-called "Jamsamdaechung (Jamsil, Samsung, Daechi, Cheongdam)" Land Permit System and then re-designated the entire Gangnam, Seocho, Songpa, and Yongsan districts as a Land Permit System just 34 days later.

Chairperson Park Joo-min noted, "At the time the land transaction permit zone was lifted, the lending thresholds were eased, causing a rise in loans and housing prices" and added, "As many had feared, housing prices have surged significantly, and once again, transactions have been blocked by hastily re-designating the (Land Permit System), creating innocent victims in the process."

Commissioner Kim Nam-geun pointed out, "In surprise at the housing price surge in Seoul, Mayor Oh implemented even stronger regulations than expected by the market" and remarked, "The validity of the extension of the Land Permit System was supposed to last until June this year, yet the abrupt lifting seems difficult to understand except as a move aimed at appealing to the privileged class with an eye on a snap presidential election."

Seoul Mayor Oh Se-hoon and Minister Park Sang-woo of the Ministry of Land, Infrastructure and Transport are bowing their heads and greeting each other after concluding a briefing on measures to stabilize the dwellings market at the Government Seoul Building in Jongno-gu, Seoul, on Nov. 19. /Courtesy of News1

Potential figures from the ruling party similarly launched counterattacks.

Former People Power Party leader Han Dong-hoon stated, "Land policy must be sophisticated and predictable," adding, "If the Seoul city government had lifted the Land Permit System in a timely manner, such confusion would not have occurred."

Daegu Mayor Hong Joon-pyo also criticized it as "an unconstitutional administrative measure," stating, "Applying a system meant for undeveloped land to apartment transactions is an unconstitutional administrative measure."

Former Commissioner Yoo Seung-min pointed out, "Should the conservative government repeat the foolish real estate policy failures of the Moon Jae-in administration?" and Commissioner Ahn Cheol-soo accused, "Mayor Oh provided the cause for the explosive increase in Seoul's real estate prices."