The Korea Housing Construction Association announced on May 1 that it held a policy meeting with the Democratic Party of Korea at the 6th meeting room of the National Assembly on April 30.
At the policy meeting, Chairperson Maeng Seong-kyu of the Democratic Party of Korea, along with Commissioner An Tae-jun, Commissioner Jeong Jun-ho from the National Land, Infrastructure and Transport Committee, Commissioner Yang Boo-nam from the Administration and Safety Committee, and Commissioner Park Hae-cheol, attended. In the dwellings industry, 14 members including Chairperson Jeong Won-joo of the association were present.
The association proposed 21 tasks across five areas, including solutions for resolving unsold dwellings and stimulating demand, five measures to support liquidity for housing providers, six measures to expand the basis for housing supply, two measures to improve the quality of apartment buildings, and three improvements to unreasonable corporate tax issues.
In particular, to enhance local economic vitality, it strongly requested the establishment of support measures for resolving unsold dwellings and recovering demand, including a temporary reduction of capital gains tax when acquiring unsold dwellings and exemption from increased acquisition tax, reinstatement of the apartment rental registration, easing of loan regulations and interest rate cuts, and improvements in the conversion of balance for group loans.
Additionally, it emphasized measures to stabilize the housing market and help housing providers overcome crises, including improving the commercial ratio of mixed-use buildings in commercial areas, reinstating the extension of support for corporate rental housing providers from the housing & urban fund, allowing early conversion of privately constructed rental housing to sales, urgent support for the normalization of real estate project financing, and realistic appraisal for HUG recognition and improvements in the LH rental purchase system.
Chairperson Maeng Seong-kyu and others from the Democratic Party of Korea noted, "We deeply empathize with the reality facing the dwellings industry, which is struggling due to unsold properties and worsening conditions for housing providers, and we will work together to explore improvement measures." They also stated that they would closely consult with relevant ministries at the committee level on tasks under the Administration and Safety Committee and the Strategy and Finance Committee to support the recovery of the housing market and invigorate the local economy.
Chairperson Jeong Won-joo stated, "The dwellings industry is pushed to the brink due to an increase in unsold properties, skyrocketing construction and labor costs, and persistent high-interest rates. It is urgent to establish comprehensive measures for normalizing the housing market, including tax support such as capital gains tax and acquisition tax, as well as interest rate cuts," and requested active interest and role fulfillment from the National Assembly's leading party.