The People Power Party criticized the government's Jan. 29 dwellings supply plan as lacking effectiveness. It argued that because the timing of supply is late and the units will be provided at high prices, only so-called "cash-rich people" will selectively benefit.
Song Eon-seog, floor leader of the People Power Party, said at a floor countermeasures meeting held at the National Assembly on the morning of the 30th, "Yesterday (the 29th) the government released a plan to use public land such as idle sites in the downtown area to supply about 60,000 homes," adding, "The numbers look ambitious, but when you look inside, the omission of easing redevelopment regulations makes the policy's effectiveness feel limited."
She added, "Most groundbreaking would come after 2028, and even that depends on smooth consultations with residents, so the supply timing is far too late," and said, "Given construction cost structures, dwellings supplied after 2030 are highly likely to top 1 billion won even for small units. There is a strong concern it will become a selective method possible only for cash-rich people."
Song also said, "Taeneung Country Club, included in the sites, already failed under the Moon Jae-in administration due to opposition from local residents. This is a unilateral push by the administration that does not consider social conflict," adding, "It was supposed to be released within the year, but the supply plan was only released at the end of January. Did they drag out the announcement just to roll out a plan at this level?"
She emphasized, "The fastest and best solution is normalizing reconstruction and redevelopment dwellings supply through deregulation," adding, "This real estate supply policy, which omits such a core, again looks likely to fail. We hope they do not use a failure of the supply plan as an excuse to add demand-suppression policies such as higher property taxes."
The Ministry of Land, Infrastructure and Transport the previous day released the Jan. 29 supply plan to provide 59,700 homes on 4.78 million square meters of downtown land. The supply sites include 46 areas, including the Yongsan International Business District in Seoul, Taeneung Country Club in Nowon District, the Agency for Defense Development in Dongdaemun District, and Gwacheon Racecourse and the Counterintelligence Command in Gwacheon, Gyeonggi Province.
The party's Special Committee on Normalizing the Housing Ladder, led by lawmaker Kim Jae-seop, also issued a statement that day, saying, "Seoul currently has a plan underway to start construction on 310,000 homes by 2031 and to complete 377,000 homes by 2035," and added, "To achieve residential stability for citizens, it is right to put weight behind supplying 370,000 homes through redevelopment and reconstruction rather than a mirage-like 60,000 homes."
It continued, "While to the public the government toys with citizens using such empty words, behind the scenes it is squeezing the people's lifeblood with all kinds of taxes," adding, "It must immediately reconsider real estate policies that shackle feasible supply expansion measures while ringing only confusion and empty noise with hollow plans."