
Ha Jun-kyung and Moon Shin-hak accompany… Review of modular housing and discussion of metropolitan transportation measures
President Lee Jae-myung visited the 3rd new city apartment construction site in Gyeyang-gu, Incheon on the 20th to inspect the supply situation, and ordered that supply be expedited as much as possible as it is an emergency period and a comprehensive review, including the introduction of modular housing.
AI-generated summary
Block A3 of the Gyeyang public housing district in Incheon is one of the 3rd new towns, where the first actual occupancy is expected at the end of this year.
Ha Jun-kyung and Moon Shin-hak accompanied by direct inspection… Incheon Mayor and LH President also accompanied
“Emergency period, acceptance while strengthening foundation… Comprehensive review of modular housing”
(Seoul = Yonhap News) Reporter Hwang Yoon-gi = On the 20th, President Lee Jae-myung, along with Blue House staff, visited the rooftop of an apartment in Gyeyang-gu, Incheon, which was about to be moved in, and personally inspected the 3rd new city supply site.
President Lee climbed to the 15th floor rooftop of the A3 block building in the Gyeyang public housing district in Incheon around 3 p.m. on this day.
This building is expected to be the first apartment in the 3rd new town to be occupied by the end of this year, and construction is currently being completed.
President Lee was accompanied by Ha Joon-kyung, the new policy director in charge of real estate supply-related policies at the Blue House, and Shin Moon-hak, senior secretary for economic growth.
Minister of Land, Infrastructure and Transport Hong Ji-seon, Korea Land and Housing Corporation (LH) President Lee Seong-hoon, Incheon Mayor Park Chan-dae, and Democratic Party of Korea lawmaker Kim Nam-joon also accompanied them.
President Lee went up to the rooftop with a view of the surrounding grounds and received a report from the head of LH's business division in charge of the Gyeyang and Bucheon regions.
President Lee compared the panel and the actual site and asked, "How many generations will there be and what are the plans for the railroad?"
After hearing an explanation about areas where construction has not yet begun, he said, “This is an emergency time,” and urged, “We need to expedite supply as much as possible.”
When President Lee explained that it takes time to process the ground, President Lee ordered a more proactive response, saying, “There is also a way to proceed with the acceptance and consultation process at the same time while laying the groundwork.”
After inspecting for approximately 20 minutes, President Lee moved to the basement of the building and held a meeting with end users and real estate experts.
At the meeting, President Lee heard opinions on the introduction of modular (prefabricated) housing from experts and ordered, "Comprehensively review it with a view to creating a modular housing market."
Prospective residents suggested, "As the majority of residents are expected to commute to Seoul, measures to improve metropolitan transportation, including metropolitan buses, are needed," and Mayor Park, who was present at the meeting, responded, "We will prepare transportation measures as much as possible."
AI outlook — possibilities, not facts
Prepare and announce metropolitan transportation improvement measures
Likely · Within months

President Lee Jae-myung visited the Gyeyang district in Incheon on the 20th, ahead of the first occupancy of the 3rd new city, and emphasized the importance of rapid housing supply, and ordered that supply standards be shifted to focus on occupancy, with a goal of starting construction of 90% of public housing by 2030.

South Korean President Lee Jae Myung urged officials on Tuesday to accelerate housing supply to the fullest extent possible during a visit to the Gyeyang public housing district in Incheon, aiming to avert a looming shortage.

President Lee Jae Myung urged faster administrative procedures for land development and construction permits to increase housing supply amid rising prices, while also calling for public safety reforms and impartial investigations by the newly launched Serious Crime Investigation Agency.

Samsung C&T announced on the 19th that it was finally selected as the construction company for the pilot apartment reconstruction project in Yeouido-dong, Yeongdeungpo-gu, Seoul. This project, with a construction cost of 2.2685 trillion won, is a project to create 2,480 apartment houses from 6 underground floors to 59 floors above ground. A new complex name, Raemian Sonelli, was proposed, and OMA will participate in the design.

Next month, the number of apartments available nationwide is expected to drop to 11,559 households, down 30% from the previous month and 49% from the same month last year. In particular, the metropolitan area is expected to have 4,031 households, a 49% decrease from this month, and Seoul is expected to have only 488 households in three complexes. In rural areas, 7,523 households are scheduled to move in.

The Ministry of Land, Infrastructure and Transport is optimistic about the possibility of stabilizing the housing market in the mid- to long-term based on improvements in housing supply leading indicators and declines in sales prices in some regions, and announced that supply and demand conditions will significantly improve with the full-scale occupancy of the 3rd new city in 2028.