President Lee Jae-myung said his government will mobilize land development, reconstruction, redevelopment, financing, regulation and tax policies to expand housing supply and stabilize prices in the Seoul metropolitan area. He attributed persistent market pressure to the concentration of economic activity in Seoul, Gyeonggi and Incheon, as well as a sharp decline in permits and construction starts between 2022 and 2025. The August 13 housing package includes plans for more than 230,000 homes in the Seoul metropolitan area and expanded real-estate project-financing support. Seoul Mayor Oh Se-hoon rejected Lee's attribution of supply shortages to the prior administration and himself, arguing that former Mayor Park Won-soon had dismantled redevelopment and reconstruction projects. Oh said he submitted a report on the shortage to Lee last August and contended that Seoul prices turned upward around Lee's inauguration after previously stabilizing downward. Gangnam-gu and Seocho-gu apartment prices had fallen for six consecutive weeks through the second week of September, but Seoul-wide prices had risen for 84 straight weeks.