Seoul Mayor criticizes housing policy and defends Yongsan Park

Seoul Mayor Oh Se-hoon has criticized the central government's mortgage regulations, arguing they disproportionately harm young people lacking cash assets while making it easier for wealthy individuals to purchase homes. Oh also reaffirmed his opposition to using Yongsan Park land for apartment construction, stating that not “even 1cm” of the park should be sacrificed for housing, noting that Seoul's accessible green space is only a quarter of London's.

Simultaneously, victims of social housing deposit fraud have appealed to the newly appointed Minister of Land, Infrastructure and Transport, Hong Ji-seon. Tenants in various social housing projects, which were promoted as youth housing alternatives, are facing significant financial distress due to the non-return of deposits by private operators.

Victims are calling for the government to implement public purchases of these properties and to recognize them as victims under the Special Act on Jeonse Fraud. While protesters demand immediate relief, the Ministry of Land, Infrastructure and Transport and the Housing & Urban Guarantee Corporation (HUG) have expressed caution, citing potential issues regarding breach of trust if properties are purchased through certain investment structures.