President Lee Jae-myung said on the 3rd, "The construction of the planned new city must proceed as scheduled. I intend to speed it up."
On that day, President Lee held a press conference marking the 30th day of his inauguration at the Blue House's guesthouse, stating, "Real estate supply measures include not only new lots for new cities but also many ways to recycle existing lots and utilize current sites. We can also increase density."
President Lee also mentioned that regarding the recently announced limit of 600 million won on housing loans in the financial sector, "This is just a taste." He added, "There are many other fundamental demand suppression measures beyond this." He further noted, "If we can speed up supply, there will not be situations to worry about."
The president pointed out, "I believe that the future of Korea will be significantly influenced by real estate policies," stating, "Amid the deepening concentration of population in the metropolitan area on a narrow land, speculative demand is greatly disrupting the real estate market."
He continued, "It may not go as I wish, but I think it would be much better for investment capital to move to the financial market rather than the real estate sector," adding, "Balanced development policies will take time, but I intend to firmly pursue changes in overall direction so that regions no longer experience population extinction or excessive population concentration in the metropolitan area."