Understanding and Responding to Political Conflict in the Housing Market: Insights from Minister Won Hee-ryong

2023-08-28 05:27:02

“Responding to political conflict… It’s not that I’m going out of business.”
“The rise in house prices should not be taken lightly, but we do not control the market”

▲ Minister of Land, Infrastructure and Transport Won Hee-ryong speaks at a press conference held at the Government Complex Sejong in Sejong City on the morning of the 28th. 2023.8.28 Yonhap News Regarding the suspension of construction of the Seoul-Yangpyeong Expressway, which Minister of Land, Infrastructure and Transport Won Hee-ryong himself declared abolition, he said, “If it is separated from the political conflict, it is the consistent position of the Ministry of Land, Infrastructure and Transport to proceed normally from today.”

At a regular meeting with reporters from the Ministry of Land, Infrastructure and Transport on the morning of the 28th, Minister Won said, “The purpose of the position I took last time (clearing the Seoul-Yangpyeong Expressway) is to eliminate political strife.” I don’t mean it. It’s a matter of approaching the frame,” he said.

Minister Won criticized, “Although the doubts and questions raised due to the political conflict have been resolved, they are still being raised.”

He continued, “Isn’t it necessary to listen to the explanations of the people who performed the service that was not fulfilled even though the National Assembly requested it?” goal,” he said.

▲ Minister of Land, Infrastructure and Transport Won Hee-ryong (left) speaks at a press conference held at the Government Complex Sejong in Sejong City on the morning of the 28th. 2023.8.28 Yonhap News On the other hand, on the 28th, Minister Won said, “If the housing transaction volume is large or higher than the long-term average, it will be a factor in sudden fluctuations in house prices,” regarding the situation where the housing market shows signs of overheating once more, such as the recent rise in apartment prices across the country. It can be done, but (transaction volume) is not to that extent,” he diagnosed, “what will happen in the future is a flexible situation.”

Minister Won said, “The emergence of a new arrow direction (rising house prices) should not be taken lightly. “We need to prevent the general spread of the mentality that today is cheaper than tomorrow,” he said. “Breaking the direction of the arrow itself is the arrogance of the policy authorities, and we will not take an arrogant approach that can control the market.”

Reporter Choi Jae-heon

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