South Korea’s presidential policy chief, Kim Yong-beom, emphasized the urgent need to rapidly increase housing supply during a recent forum. This call comes as the nation experiences strong trends in home sales, jeonse (lump-sum deposit rental), and monthly rental prices. Kim’s statement, translated as “just build (houses),” underscores the government’s focus on boosting supply to address affordability concerns. The policy extends beyond apartments to include other housing types, signaling a broader approach to increasing availability. Officials acknowledge the current market strength across all rental and sales categories necessitates swift action. This renewed emphasis on supply aims to stabilize the housing market and alleviate pressure on potential homebuyers and renters. The government intends to utilize all available resources to accelerate construction projects.
