View of apartments and other buildings seen from Namsan in Seoul (Yonhap)
SEOUL, Nov. 7 (Korea Bizwire) – Government officials discussed Friday ways to supply public housing in the greater Seoul area through the use of idle state-owned land in order to meet the growing need for new homes in the capital region, according to the finance ministry.
The meeting, attended by officials from relevant ministries and agencies, was held to discuss the government’s initiative to supply a total of 28,000 public housing units, primarily for young people, low-income households and newlyweds.
The plan includes the development of unused government land and properties in central Seoul and nearby cities such as Gwangmyeong, aiming to expand affordable housing options.
Kang Young-kyu, the finance ministry official who presided over the meeting, emphasized the need to make greater use of aging public buildings and other state-owned assets.
“We need to actively expand the role and function of state-owned properties in housing development,” Kang said, calling for efforts to achieve the goal by 2030.
The initiative is part of a broader government effort to stabilize housing conditions for younger residents in the capital region, where real estate prices remain significantly higher than in other parts of the country.
(Yonhap)
