Seoul housing and tax plans spark widening protests across capital

Seoul is facing a broadening backlash to the government’s latest real estate measures as residents in western, central and southern districts challenge both new public housing plans and higher property taxes. The strongest resistance has centered on a proposal to build 1,000 public housing units on 51,000 square meters at Yeomchang Neighborhood Park in Gangseo District, while homeowners in Gangnam and Seocho are seeking guidance after the Aug. 3 tax overhaul sharply raised levies on high-priced homes. Opposition is also persisting around plans announced on Jan. 29 for 6,800 homes near Taereung Golf Course in Nowon District and 9,800 in Gwacheon, and it intensified again after Land Minister Kim Yun-duk said the government is "considering all of Yongsan Park" as a potential housing site. Lee Eun-hyeong of the Korea Research Institute for Construction Policy said pushing through major real estate measures without consultation may deepen social conflict while doing little to stabilize housing.

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Seoul housing and tax plans spark widening protests across capital - CoinPost Terminal