Housing Supply Promotion Ministers' Meeting Launched—Koo Yun-cheol Vows 'Rapid, Tangible Results'

(Sejong=Yonhap Infomax) Jun Hyung Park – Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said on the 14th, "We will deliver visible results as quickly as possible so that genuine homebuyers can have confidence in securing their own homes."

Koo made these remarks during his opening statement at the inaugural session of the Housing Supply Promotion Ministers' Meeting held earlier in the day.

He emphasized, "Through biweekly ministerial and vice-ministerial meetings, as well as ad hoc subcommittee sessions, we will closely monitor the progress of housing supply in Seoul and the greater metropolitan area, review supplementary measures, and coordinate key issues."

Koo added, "We will directly address and swiftly resolve inter-ministerial differences that have previously hindered supply, by discussing them at the ministerial and vice-ministerial level. With the participation of all relevant ministries, the execution of housing supply policies will be significantly strengthened."

He continued, "Today, we will communicate cooperation requirements to each major ministry and request measures to accelerate housing supply plans for prime urban sites. Going forward, each ministry will promptly establish concrete supply plans."

On recent real estate market trends, Koo noted, "Since the announcement of the 'Housing Market Stabilization Measures,' the sharp rise in prices has somewhat subsided. The government will remain vigilant, continue to monitor market conditions, and do its utmost to maintain stability."

jhpark6@yna.co.kr

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