Person
South Korean career civil servant nominated as land, infrastructure and transport minister after decades in provincial and city administration.
Google is in final-stage talks with Seoul to export 1:5,000 map data, according to industry sources cited by en.sedaily.com. The land ministry says Google has submitted no documents, so it has not begun assessing compliance.
Reality
Seoul apartment prices rose 10.42% in the year after the October 15 lending curbs, 1.6 times the 6.61% of the year before, Korea Real Estate Board data show. Jeonse price growth quadrupled as a residency rule pulled rental flats off the market.
Reality
Seoul-area housing starts reached 86,739 from January through August, about a third of South Korea's 268,000 target for the year. Land minister Hong Ji-sun projects 80% to 88% of the goal, a figure that needs September-to-December starts at about three times the monthly pace so far.
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South Korea's land ministry will brief on housing supply every two weeks, leading with third-wave new towns due to start 18,200 units this year. A weekly Moon-era series lasted 21 sessions, so this one will be judged on whether the starts it reports become homes.
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South Korea's land ministry plans to lower the levies developers pay to rezone office sites for housing, aiming at 1.75 million square meters of idle land. The state pays for the cut in public land and facilities it no longer collects, and gets housing back only if the levy is a large part of why those sites stayed empty.
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Korea's land ministry plans to cut developers' rezoning payments to bring about 1 million square meters of unbuilt Seoul sites into housing. It also plans the first legal basis for charging on upgrades within a zone, so what developers gain depends on the rate its study sets.
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Land Minister Hong Ji-sun told lawmakers South Korea will start only 80% to 88% of this year's planned homes, the government's first admitted shortfall. Even the low end needs September-to-December starts about 1.55 times last year's, so the public-land fast-track she promised has to show up in starts before the year ends.
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Seoul apartment jeonse prices are up 8.18% this year, Korea Real Estate Board data show, against 3.83% nationwide. To meet even the minister's lowered forecast, greater Seoul's housing starts would need to run about three times their pace so far.
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Seoul Mayor Oh Se-hoon said his goal of breaking ground on 310,000 homes by 2031 depends on regulatory changes only the central government can make. The city is adding staff to manage disputes, but the tax and lending breaks he wants for private long-term rentals are the central government's to give.
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Data from Rep. Kang Deuk-koo's office show suspected gap-investment purchases fell 67.8% to 2,442 in about 11 months after Seoul became a permit zone. Buyers in their 20s and 30s now make up more than half of what remains, ahead of a year-end call on extending the zone.
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Finance and Economy, Land and Infrastructure and SMEs all change hands inside a ten-post announcement. The opposition has already named the Justice nominee as the fight that will set the hearing calendar.
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Korea Real Estate Board figures put Seoul apartment jeonse up 7.79% by the second week of September, the steepest run since 2015, and the 1 billion won contracts are now signing in Seongbuk and Dongdaemun, well outside the Han River belt.
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