South Korean government pushes rapid conversion of non‑residential land to housing

President Lee Jae‑myung ordered officials to secure as much housing supply as possible, directing the Ministry of Land, Transport and Maritime Affairs and Korea Land & Housing Corporation (LH) to accelerate the conversion of vacant and non‑residential sites into residential units. The plan emphasizes new town development, the use of state‑owned and idle urban land, and the possible release of green‑belt areas in Gangnam’s three districts. A cross‑ministerial “rapid innovation team” has been created to speed up approvals, compensation, cultural‑heritage checks and environmental reviews for stalled projects such as the 3rd‑phase new towns in Hanam and Bucheon. Industry groups call for a special law to facilitate private‑sector land‑use changes, while resident opposition continues at sites like the Seoripul districts, where lawsuits have been threatened. The government is expected to announce a third housing‑supply package for the capital region within days.