South Korea Pushes Fast-Track Bills to Expand Seoul Housing Supply
Lawmakers from the ruling party’s National Assembly Land, Infrastructure and Transport Committee and the Ministry of Land, Infrastructure and Transport met at the National Assembly building in Yeouido, Seoul, to press ahead with laws intended to expand supply and streamline procedures for urban housing. The talks focused on accelerating key bills aimed at stabilizing Seoul’s housing market by boosting urban housing supply.
Maeng Seong-gyu, the committee chair, said the body would move quickly in line with leadership calls to speed up both legislation and its implementation. He stressed that housing problems cannot be postponed and that the core to market stability is supply, backed by timely and effective laws.
The committee highlighted several bills as priorities: the Public Housing Special Act; the Special Act on the redevelopment of aging public office buildings; the Special Act on the redevelopment of school sites; the Urban Redevelopment Act; and the Real Estate Development Project Management Act. They said these measures would expand the supply base in city centers, shorten procedures, and accelerate project timelines.
Maeng also noted that victims of jeonse scams remain in distress and that vulnerable housing groups still face gaps in the system. He called for minimum, targeted refinements to the Housing Act and the Private Rental Housing Act to curb harms and restore market confidence, indicating a commitment to thorough scrutiny of livelihood-focused legislation.
Minister Kim Yoon-deok acknowledged changes in Seoul’s market, with listings rising and prices easing in the Gangnam area and in Yongsan, but warned that genuine stability depends on supply. He urged faster passage of legislation related to the so-called 9/7 measures to expand housing supply and reassure markets.
Kim cited tasks including support for jeonse-scam victims, ensuring fair and timely payments on construction sites, and addressing issues linked to regional housing cooperatives. He asked the National Assembly for active cooperation to speed up the deliberation and passage of these livelihood bills.
Context for international readers: Seoul has long used targeted legislation to increase urban housing supply and curb speculative demand in a bid to stabilize prices. The 9/7 measures refer to a government policy package aimed at tempering speculation while expanding supply across the capital region. The meetings underscore how Korea’s housing policy, a domestic economic and political priority, can influence consumer sentiment, construction activity, and investment in a key ally with major technology and manufacturing sectors that matter to U.S. supply chains and markets.