Gwacheon and Taereung Housing Supply to Start in 2029, One Year Earlier

Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired a real estate ministers’ meeting at the Government Complex Seoul on the morning of the 15th and said large-scale housing supply at Gwacheon Racecourse, the counterintelligence command site and Taereung Golf Course will begin construction in 2029, one year earlier than planned. Koo said “rapid supply is most important” and that the government is compressing all execution stages so announced plans lead to actual homes. About 2,900 units, including the Gangseo military site and redevelopment of aging government buildings, are proceeding through preliminary feasibility study exemption procedures and are planned to start in 2027. The meeting also covered housing market trends, household debt management and responses to illegal real estate activity. Source: rss.donga.com