Kim Yoon-deok, Minister of Land, Infrastructure and Transport, made a bold statement today (27th) that he is "actively considering partial deregulation of the Greenbelt if necessary" to expand housing supply, and simultaneously announced plans for multiple measures to revitalize non-apartment housing and stabilize housing for youth, signaling a major impact on the real estate market.
Minister Kim made these remarks at a national real estate policy debate held at the Korea Chamber of Commerce and Industry International Conference Hall, presided over by Prime Minister Han Sung-soo. He stated firmly that he "fully agrees with promoting non-apartment housing," and emphasized that the government will soon develop measures to revitalize non-apartment supply and diversify corporate rental housing entities. This represents a shift from the existing principle of Greenbelt preservation, interpreted as reflecting the government's strong determination to address the housing supply shortage.
Minister Kim presented the ultimate goal of real estate policy as "enabling young people to achieve housing stability and build a housing ladder." He clearly indicated that the government is actively reviewing non-apartment policies to reduce the housing burden for single-person households and younger age groups. He repeatedly stressed that "real estate policy should start with youth and newlyweds," signaling his commitment to focusing on developing practical housing stability measures for them.
However, regarding the increase in floor area ratio for private redevelopment projects, he took a cautious stance. Minister Kim drew a line, stating he takes a "cautious position" due to concerns that raising the floor area ratio could lead to supply gaps and rising housing prices. This interpretation reflects his intention to carefully monitor potential market side effects in his approach to private redevelopment projects, which account for a large portion of housing supply.