Gov't to cut red tape to speed up housing supply, finance minister says

Korea will prioritize policies to speed up housing supply and address volatility in the property market while tackling speculative trading, the finance minister said Friday.

venerdì 29 maggio 2026 New tab

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Seoul's apartments are seen from Mount Namsan on May 29. [NEWS1]

Korea will prioritize policies to speed up housing supply and address volatility in the property market while tackling speculative trading, the finance minister said Friday.

Finance Minister Koo Yun-cheol made the remark during a meeting on real estate policies with relevant ministries, noting Korea will accelerate the timetable for existing housing supply projects by streamlining approval procedures, according to the Ministry of Finance and Economy.

For example, Koo said the country plans to start construction in Seongnam, Gyeonggi, to supply 6,300 new homes in 2029 instead of the original target of 2030.