The Korea Housing Construction Association announced on the 15th that it has signed a policy agreement with the Democratic Party of Korea at the Dwellings Construction Center in Yeouido.
Included in the policy agreement ceremony were Lee Jae-myung, the Democratic Party of Korea's candidate for the 21st presidential election, Han-ju Lee, head of the election commission, and Jin-seok Moon, secretary of the Ministry of Land, Infrastructure and Transport. The housing industry was represented by five members, including Jeong Won-joo, president of the association, and the chairpersons from various cities and provinces.
The Democratic Party of Korea and the association decided to cooperate for the development of the dwellings industry, aim for balanced national development, and innovate regulations that hinder the supply of dwellings through this policy agreement.
During the meeting, the association conveyed that revitalizing the local economy through the recovery of demand for dwellings is the most urgent matter. To this end, they proposed major policy recommendations including ▲ expanding tax support to resolve unsold dwellings ▲ easing loan regulations and reducing interest rates ▲ addressing the reality of small housing developers playing a central role in providing affordable dwellings that function as a housing ladder ▲ and relaxing the regulations on multiple dwellings per household.
The Deputy Minister noted the significant impact of the dwellings industry on national housing stability and the economy, agreeing to actively incorporate the association's policy recommendations and additional topics discussed in practical meetings into policies.
Chairman Jeong stated, "To recover the national economy, the housing market, which has a significant impact on job creation and the backward and forward economic linkages, must be prioritized to revive. It is urgent to establish comprehensive measures to normalize the housing market, including tax support for capital gains tax and acquisition tax, and I request that you actively reflect this in related policy formulation."