President Lee orders accelerated housing supply in South Korea

President Lee has ordered a “supply blitz” to address structural housing shortages in South Korea, emphasizing that actual construction and move-ins are more important than mere announcements of housing numbers. During a cabinet meeting and a visit to the Incheon Gyeyang 3rd Generation New Town, Lee directed officials to drastically reduce the time required for land development, permits, and construction.

To accelerate the process, the President suggested several measures, including the sale of undeveloped land (raw land sales) to allow buyers to manage their own development, expanding financial incentives, and increasing manpower at the Korea Land and Housing Corporation (LH). He also called for legislative improvements to prevent delays caused by civil litigation during land expropriation processes.

In response to the administration's focus on speed, the Democratic Party has designated the “Modular Housing Special Act” as a top legislative priority for the second half of the year. Modular construction, which involves pre-fabricating structures in factories for on-site assembly, could potentially reduce construction periods by 20% to 30%.