Blue House says about 150,000 housing units can break ground this term

South Korea's current administration believes roughly 150,000 housing units can begin construction within its term, combining newly announced supply plans with earlier housing measures, Blue House senior secretary for economic growth Ha Jun-kyung said. He said the total draws from the 230,000 units announced that day, including "120,000 plus alpha" that can move relatively quickly, as well as the 135,000 units tied to last year's September 7 measures and the January 29 measures. Of the 230,000 units newly presented, about 100,000 are on newly designated land, with around 27,000 units specifically confirmed and consultations with relevant agencies largely completed for the rest. Ha said additional announcements could still be made within the year. He also said the government plans to speed up move-in timelines by advancing sales schedules for Phase 2 and Phase 3 new towns, targeting more than 3,000 units annually from 2028 in Phase 2 and more than 10,000 units annually in Phase 3 within the administration's term. On whether Yongsan Park could be used for housing, Ha said broader social discussion is needed, while noting the government is consulting closely with the Seoul Metropolitan Government. He also defended youth housing support that includes non-apartment homes and said the system is being designed so buyers of such homes are not disadvantaged in apartment subscription lotteries. On tax reform, he rejected the idea that the changes are simply punitive, saying the aim is to restore fairness while easing burdens for properties other than ultra-luxury homes. He added that real estate policy should focus less on prices themselves than on helping people live without excessive housing anxiety.

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