Minister Kim Yun-duk of the Ministry of Land, Infrastructure and Transport said on the 1st the government would actively push measures to expand supply, including converting commercial spaces into dwellings, to ease the jeonse shortage.
The Minister appeared at a full meeting of the Land Infrastructure and Transport Committee at the National Assembly that day and said, "The jeonse and monthly rent issue is quite serious," adding, "It is necessary to actively push measures to boost supply to ease the jeonse shortage." The Minister went on to say, "We are reviewing various ways to increase supply, such as converting commercial spaces into dwellings," adding, "Some are underway."
On the property holding tax increase, the Minister said, "The government is preparing a comprehensive plan," adding, "We will announce it after discussions."
Regarding the recent high-priced pre-sale structure that allows only "cash-rich" people to buy units, the Minister said, "It is not desirable." Currently, 12 areas in Seoul and Gyeonggi are designated as land transaction permit zones and regulated areas, making loans difficult. Depending on the pre-sale price, only 200 million to 600 million won in loans are available, prompting criticism that some high-priced apartment offerings can be applied for only by those with sufficient cash on hand.
In addition, regarding the exclusion of chartered bus support from the supplementary budget for responding to the Middle East situation, the Minister said, "It was removed during consultations with fiscal authorities because of weak public interest and a lack of various fare regulations," adding, "We will review complementary measures at the Ministry of Land, Infrastructure and Transport (MOLIT) level."