Kim Yoon-deok, the Minister candidate for the Ministry of Land, Infrastructure and Transport, expressed concern that due to the instability in the real estate market, including rental loans in the debt service ratio (DSR) could lead to a reduction in loan limits, particularly for low-income citizens and actual demand users.
According to a response document obtained by ChosunBiz from the Land Infrastructure and Transport Committee of the National Assembly on the 25th, candidate Kim expressed his views on including tenants' deposits or rental loan borrowers in the DSR.
Candidate Kim noted, "Since the recently announced June 27th loan regulation is in its initial stage, there is a need to consider additional regulations while observing household loan trends and market effects," adding that, "If rental loans are applied to the DSR, there may be a reduction in loan limits for low-income citizens and actual demand users, so we plan to consult the Financial Services Commission, the relevant ministry, about it."
Candidate Kim assessed that the June 27th loan regulation was effective in stopping the rise in housing prices in high-end areas of Seoul such as Gangnam. Kim stated, "Recently, major areas in Seoul, including the Gangnam district, showed signs of overheating, but I believe that the recent slowdown in housing price growth is due to the restrictions on speculative transactions implemented as part of the June 27th household debt management strengthening measures."
He also expressed his intention to further review market stabilization measures after taking office as Minister. Candidate Kim remarked, "If I become Minister, I plan to closely monitor the housing market trends in collaboration with related ministries and explore various measures for market stabilization."
Regarding the relaxation or abolition of the excess profit recovery system, which is assessed to hinder the activation of reconstruction, one of the measures to expand housing supply, candidate Kim stated that the interests of both the public and private sectors should be balanced.
Candidate Kim emphasized, "Since discussions regarding the current institutional operation methods are ongoing in the National Assembly, if I become Minister, I will strive to ensure that rational alternatives can be derived during the discussions in the National Assembly," while also adding that, "I believe there is a need to discuss rational alternatives that can balance the interests of both the public and private sectors while increasing housing supply in urban areas."
Regarding the delayed Gadeokdo New Airport, he expressed the position that "there is a need to expedite its advancement." Candidate Kim mentioned, "Gadeokdo New Airport is a key project for balanced national development, and I believe it is necessary to push it forward quickly while ensuring safety and quality, serving as a hub for regional development in the southeast. If I take office as Minister, I will closely review the existing project promotion methods and will explain the specific promotion plan to the National Assembly once it is prepared."