Minister Kim Yun-duk of the Ministry of Land, Infrastructure and Transport said on the 11th that the ministry will move up groundbreaking timelines for major dwelling supply sites, including the third-generation new towns, and strengthen relocation support for redevelopment projects to increase downtown dwelling supply. He also reaffirmed plans to convert nonresidential land to residential use and to identify additional candidate sites for the urban public housing complex program.
The Minister attended a full meeting of the Land Infrastructure and Transport Committee at the National Assembly in Yeouido, Seoul, that day and said, "Through swift and sufficient dwelling supply, we will build a Republic of Korea where everyone can live without worrying about housing."
The Minister said, "We will move up groundbreaking for major districts such as the third-generation new towns and expand downtown dwelling supply through relocation support for redevelopment projects." To stabilize the real estate market, the ministry will expand the conversion of nonresidential land to residential use and additionally identify new candidate sites for the urban public housing complex program.
In prime downtown locations, the ministry will supply public rental dwellings at affordable prices and improve conditions for young people to move into public housing. It will also strengthen support systems for victims of jeonse fraud and pursue the monthly rent and jeonse safety trust program, under which a separate trust institution manages tenants' jeonse deposits.
The remarks reiterated at the National Assembly the policies on dwelling supply and transportation and balanced development that the Ministry of Land, Infrastructure and Transport (MOLIT) released in its second-half work report on the 16th of last month.
The Minister said the government will also accelerate balanced national development policies, including the second transfer of public institutions in the greater Seoul area. The plan is to create corporate-oriented advanced cities to attract corporate investment and to upgrade regional growth hubs such as the Administrative City and Saemangeum. Investments in transportation infrastructure—roads, railways and airports—will also be expanded, focusing on non-capital regions.
The structure of transportation services will also be overhauled. The Ministry of Land, Infrastructure and Transport (MOLIT) plans to complete the integration of the Korea Railroad Corporation (KORAIL) and SR Co. by September and improve the multilayered operating structure of expressway service areas. For "Modeun Card," a public transit fare support program, the ministry will consider expanding benefits by strengthening links with other transit cards and adding teenagers to the refund list. It will also expand connecting transport networks from airports to regional tourist destinations.
Safety measures at construction and transportation sites will also be strengthened. The ministry will tighten safety management for demolition work and move to prevent shoddy construction, illegal subcontracting and delayed payments for construction projects. It will also push measures to protect transport workers in freight, bus and parcel delivery.
The ministry will foster future mobility industries such as autonomous vehicles and urban air mobility (UAM) and indoor mobile robots, and it will promote the advancement of the construction industry. It will create new funds to raise the added value of overseas construction projects and prepare a revised plan for the Fifth National Territorial Plan within the year.
The Minister also said the ministry will tighten crackdowns on illegal activities in real estate and transportation. It will focus inspections on collusion in the licensed real estate brokerage sector and illegal acts related to redevelopment associations, and it plans to block fraudulent receipt of fuel subsidies for cargo trucks and false or excessive billing in auto insurance.
The Minister said, "While concentrating all our capabilities on safeguarding people's livelihoods, we will do our best to achieve balanced growth and expand future growth engines."