Trees shroud an area of the mostly derelict U.S. Army Garrison Yongsan in central Seoul, Aug. 9. A plan to build a large urban park here is under threat, as the central government considers building high-density housing for young people here instead. Yonhap
The government is considering using Yongsan Park, a proposed green space planned for a former U.S. military garrison, as a site for new housing construction as it searches for ways to expand supply and contain surging home prices in Seoul — a political issue that is increasingly dragging down President Lee Jae Myung’s approval ratings.
The idea has pitted the central government against Seoul Mayor Oh Se-hoon, who says the site should be preserved as the city’s last major green space. But the government says the 3-square-kilometer site in central Seoul — roughly the size of Yeouido — could be used to expand the housing supply for younger people struggling to afford a home in the capital.
The government appears determined to press ahead with discussing redevelopment of the area. At a Cabinet meeting on Tuesday, Lee pushed back directly against Oh’s call for focusing more on redeveloping aging buildings, arguing that doing so could fuel speculative demand and trigger another sharp rise in home prices.
