Hong Ji-seon, candidate for Minister of Land, Infrastructure and Transport, decides whether to extend the land transaction permit system after reviewing market conditions

When asked about the evaluation of the current government's real estate policy, "Housing policy must be steadily implemented in the mid to long term."

(Seoul, Sejong = Yonhap News) Reporter Lim Ki-chang and Oh Jin-song = Hong Ji-seon, candidate for Minister of Land, Infrastructure and Transport, announced that he would decide whether to extend the land transaction permit system, which has been applied to all of Seoul and 12 regions of Gyeonggi-do, by the end of this year after examining the market situation.

At a personnel hearing held at the National Assembly on the 16th, Candidate Hong responded to a question from People Power Party Rep. Kim Jeong-jae about whether to maintain the designation of land transaction permit zones for those areas after the end of the year with the intention of making a decision after closely examining the market situation and discussing with relevant ministries.

In response to the point that the designation of land transaction permit zones discourages transactions and only raises prices, he said, "It also has a relatively positive role. In Seoul, if it is regulated and then released as non-regulation, and land transaction permits are restricted and then lifted, there is also a side effect of rising housing prices. If every policy has advantages, it also has disadvantages, so we will look at it closely."

Previously, the government designated the entire Seoul and 12 regions of Gyeonggi as Toheo District through the October 15 Measures last year. The designated period announced by the government at the time was until the end of this year.

In response to a question from People Power Party Rep. Kim Eun-hye asking for his judgment on the current government's real estate policy, Candidate Hong said, "It has been less than a year and a half since the government was launched," and added, "I think that housing policy is not effective just because it is implemented for a short period of time, and that the policy must be steadily implemented in the mid to long term."

He said, “Policy must be predictable. I believe that the effect will last only if the policy is consistent.” He added, “There is still a certain amount of time lag between the preparation of supply measures and the effect of the policy.”