Incumbent Seoul Mayor Oh Se-hoon, a candidate of the People Power Party, said on Tuesday that his decision to lift the land transaction permit zone designation in the Gangnam area and reinstate it about a month later was his "only real estate policy mistake." Jung Won-oh, the Democratic Party candidate who has been targeting weaknesses in Oh's administration, went on the offensive, saying "citizens are suffering because of misjudgment."
Oh made the remarks at a debate hosted by the Korea Broadcasting Journalists Club at the MBN Media Center that day, when asked about the reinstatement of the land transaction permit system. "At the time, the real estate market was cooling down, and we judged that 'if we were going to lift restrictions on Jamsil, Samseong, Daechi, and Cheongdam, it was the right time,' so we lifted them," he said. He called it "a one- or two-month episode," adding that "the market reacted sensitively, so we restored the original status within a month."
At a party nomination event held in Yeouido, Seoul, Jung criticized Oh, saying, "Lifting the land transaction permit system almost impulsively and then expanding it again in just over a month is a typical major mistake made by gut feeling." He said, "Real estate issues must be discussed based on concrete data," and criticized that "if these decisions are made by intuition, as candidate Oh did before, it leads to misjudgments and causes many citizens to suffer."
The two candidates also clashed over who bears responsibility for housing problems. Jung targeted Oh, saying, "Housing issues have become so difficult, yet he is only blaming his predecessor [former Mayor Park Won-soon]." He particularly pointed to supply pledges, noting that Oh "promised to supply 80,000 units annually for five years but has failed to deliver even half."
Oh placed the blame for the housing supply shortage on the late former Mayor Park. "During Park's tenure over 10 years, all 389 redevelopment and reconstruction zones were dissolved," he said. "We need a 'just supply' approach to achieve a net increase of 310,000 units by 2031."
