South Korean government launches regular housing supply briefings

The South Korean government has launched a regular briefing system to increase transparency regarding housing supply policies. The Office for Government Policy Coordination and the Ministry of Land, Infrastructure and Transport will hold bi-weekly briefings to report on construction starts, sales, and move-in progress to improve market predictability.

As of the second week of October, housing construction starts in the Seoul metropolitan area reached 99,000 units, approximately 37% of the annual target of 268,000 units. The government forecasts that between 218,000 and 235,000 units will be started by the end of the year, representing roughly 81% to 88% of the original goal.

While Seoul has seen a recent increase in building permits and construction starts compared to the previous year, figures for general housing (excluding apartments) remain significantly below the 10-year average. To address supply gaps, the government is expanding housing construction guarantees through the Korea Housing & Urban Guarantee Corporation (HUG) and plans to establish an Integrated Housing Supply Support Center.

Additionally, the government aims to facilitate the move-in of approximately 100,000 public housing units in the metropolitan area between the fourth quarter of this year and the end of next year, including projects in the 3rd Generation New Towns.