President Lee Jae-myung "Mass supply of public long-term rental housing... 50% increase in permits"

(Seoul = Yonhap News) Reporter Hwang Yoon-ki = President Lee Jae-myung reaffirmed the government's stance on the 5th, saying, "We will definitely keep our promise to escape the real estate speculative republic."

In an article posted on

As for the cause of the real estate problem, President Lee said, "The biggest cause of short-term housing price instability is the sharp decrease in housing supply over time due to a sharp decrease in permits centered on Seoul from 2022 to 2025. The mid- to long-term causes are concentration in the metropolitan area, excessive lending that encourages housing speculation, and unfair tax systems."

He then promised, “Using excess tax revenue, we will provide a large amount of public long-term rental housing for young people and the middle class at an early stage.”

He also predicted, “The number of permits and construction starts has been increasing significantly for some time now,” and “the development of new housing sites and the conversion of existing sites and buildings to residential use are accelerating, so supply will soon increase significantly.”

In addition, he emphasized, "We will ease concentration in the metropolitan area through balanced development policies such as relocation of administrative agencies and public enterprises to regional areas and the three mega and seven seed projects centered on regional areas. We will also achieve world-class household loan adjustment and tax reform in line with tax justice."

President Lee later posted three more articles on real estate issues on X, expressing his will to expand supply and foster regional development.

President Lee said, "Recent housing permits are increasing by about 50% compared to the same period last year. Housing construction in Seoul and the metropolitan area is an urgent, important, and highly effective policy because it has the two effects of revitalizing the domestic economy, which is the most needed right now, in addition to the early supply of housing, which is insufficient."

He continued, "We heard that there are many cases of hesitating to start construction due to concerns about sales even after receiving permission, so we ordered the Korea Land and Housing Corporation (LH) to confirm the purchase of unsold lots for purchase and lease," he said.

In another article, he said, "Except for the conservative government that encourages real estate speculation, each democratic government has tried to suppress real estate speculation, but has not achieved the results as desired," and asked, "Please take your time and wait a little. Please see the results and make a judgment."

When a netizen said, 'Just relocating public enterprises to regional areas does not mean much,' President Lee replied, "Don't worry," and "We will simultaneously promote local settlement conditions such as attracting companies and strengthening local settlement conditions such as childcare, education, medical care, welfare, culture, hotels, large retail stores, and roads."

Meanwhile, President Lee cited an article by Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, in the morning, saying, "The farmland census is just a survey, and there are no disadvantages to those who normally own farmland." He added, "The problem is with those who deceive the government by lying that they will farm for the sole purpose of speculation, acquire farmland, and then neglect it without farming."