Minister of Land, Infrastructure and Transport Shifts to Emergency Structure—'Mobilizing All Resources for Housing Supply'

(Seoul=Yonhap Infomax) Dong Il Joo – Kim Yoon-deok, Minister of Land, Infrastructure and Transport, has declared an "emergency structure" for housing supply and announced plans to mobilize all available resources.

The Ministry of Land, Infrastructure and Transport (MOLIT) stated on the 20th that Minister Kim, during the inauguration ceremony for the joint Housing Supply Task Force (TF) with Korea Land & Housing Corporation (LH) and the launch of the LH Special Housing Supply Headquarters, directed both MOLIT and LH to transition their organizational structures to an emergency mode for housing supply and to fully mobilize all available resources.

To accelerate housing supply, MOLIT is currently discussing with relevant ministries a plan to significantly strengthen dedicated supply functions, which are currently dispersed across units such as the Public Housing Promotion Team.

LH has established a new "Special Housing Supply Headquarters," headed by the acting president, and created five new teams to oversee key initiatives.

Specifically, the new structure includes:

• A Supply Coordination Team, responsible for overall supply and direct coordination with MOLIT;
• A Purchase Supply Team, focusing on managing each stage of new purchase agreements, including permits and groundbreaking;
• A Public Land Team, overseeing existing land development projects, identifying new sites, and expediting compensation processes for areas such as Seoul Seoripul;

Additionally, the Urban Core Supply Team will drive projects such as redevelopment of aging new towns, public urban complex projects, reconstruction of old public rental housing, and public redevelopment. The Public Housing Team will oversee rapid housing supply in the third new towns and manage projects on idle urban sites, such as the Seongdae Baseball Stadium.

A new "Metropolitan Area Redevelopment Special Headquarters" will also be established to manage urban supply projects scattered across the Seoul metropolitan area, aiming to enhance professional project execution.

Furthermore, a policy advisory group will be formed to gather diverse opinions on housing supply, ensuring that the perspectives of actual demand groups, such as young people and newlyweds, are reflected in policy implementation.

Minister Kim stated, "With the urgent need to deliver results in urban housing supply favored by the public, this organizational restructuring aims to dramatically improve supply speed," adding, "I urge LH to mobilize every possible means so that all executives, including the headquarters chief, can deliver tangible housing supply outcomes."

diju@yna.co.kr

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