Won Hee ryong photo

Sangwoo Park Ministry of Land, Infrastructure and Transport (MOLIT)

Empowering Housing Stability and Elevating Hope on the Housing Ladder

At the Ministry of Land, Infrastructure and Transport, we are dedicated to bolstering housing market

stability and facilitating smoother transitions for individuals and families to progress on the housing

ladder. To achieve this, we will utilize multifaceted policy tools rooted in market principles and

practicality.

Essentially, our goal is to ensure stable and secure housing for all by providing various housing

options that meet the diverse needs and demands of our people.

With focused urgency, we are determined to expedite renewal and improvement projects of all sizes

by conducting a comprehensive review of regulations and procedures regarding reconstruction and

redevelopment.

We will promptly unveil strategies aimed at revitalizing the aging planned cities, including those

developed during the inaugural phase of the “New Town” project - a series of urban development

initiatives undertaken in Korea.

Meanwhile, we will implement soft-landing strategies for real estate project financing to mitigate risks

in the market.

Another noteworthy approach is reinforcing tailored housing safety nets across different life stages.

This includes public rentals, the “New Home” initiative for public pre-sale, and general pre-sale

options.

With these multi-layered efforts, we aim to mend the housing ladder, perceived as insufficient and in

need of improvement.

Promoting Equitable and Fair Opportunities, Mobility, and Future Innovation

Beyond these horizons, our efforts will intensify to pursue equitable and fair opportunities, enhance

mobility, and foster future innovation. We will usher in a genuine era of regional autonomy, where

localities take the lead while receiving vital support from the central government.

We are committed to propelling success in the 15 advanced industrial complexes across the nation.

We are also striving towards the construction of new airports in Gadeokdo, near Busan, and a

specified site spanning Daegu and North Gyeongsang province.

These endeavors will help cultivate dynamic growth hubs for strategic industries within the regions.

By reinforcing road and railway networks across the nation’s five major metropolitan areas, we aim to

ensure equitable and fair travel opportunities and rights for all citizens, regardless of their place of

residence.

The commuting landscape in the Seoul Metropolitan Area will undergo a revolution with the

introduction of the Great Train Express, known as GTX. We will implement transportation

improvement plans for each new town within the metropolitan area in a timely manner to improve

daily commutes for all.

In a broader scope, we will address transport shortcomings for vulnerable groups, improving

accessibility and safety in public transportation. We will also introduce more targeted safety measures

for pedestrians, trucks, and other accident-prone elements. Additionally, we will bolster urban disaster

response capabilities to effectively tackle climate-related challenges.

Embracing the Fourth Industrial Revolution, our ministry will catalyze innovation across every sector

within our domain. Our focus lies in driving forward multiple innovative projects, especially the smart

city initiatives, highlighting their potential as valuable assets for export.

As a final point, our commitment to leveraging mutual respect and open communication within our

organizational culture drives our mission to establish an inclusive policy-making platform accessible to

all citizens.

Thank you.