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South Korean government ministry overseeing housing, land use, construction, and transportation policy, including real estate regulation.
Seoul apartment jeonse prices are up 8.18% this year, Korea Real Estate Board data show, against 3.83% nationwide. To meet even the minister's lowered forecast, greater Seoul's housing starts would need to run about three times their pace so far.
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Seoul Mayor Oh Se-hoon said his goal of breaking ground on 310,000 homes by 2031 depends on regulatory changes only the central government can make. The city is adding staff to manage disputes, but the tax and lending breaks he wants for private long-term rentals are the central government's to give.
Reality
Data from Rep. Kang Deuk-koo's office show suspected gap-investment purchases fell 67.8% to 2,442 in about 11 months after Seoul became a permit zone. Buyers in their 20s and 30s now make up more than half of what remains, ahead of a year-end call on extending the zone.
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Korea Land & Housing chief Lee Sung-hoon wants the 600 million won mortgage cap on greater Seoul homes up to 1.5 billion won lowered. His plan uses credit to hold prices until new supply arrives, and buyers in their 30s, the heaviest borrowers, would put up more of their own cash.
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Lee Jae-myung promoted four serving officials to his economic team on October 1, among them the regulator behind Seoul's 600 million won mortgage cap. With his approval rating falling partly over housing, the lineup points to firmer lending rules and heavier holding taxes in his second year.
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Seoul apartment sales fell to 3,466 in August, less than half the monthly pace of April and May. Agents say loan limits of 100 million to 200 million won leave the market to buyers who can pay mostly in cash.
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Renewals hit 50.8% of Seoul apartment jeonse contracts through August as new leases fell 38%, though renewal numbers slipped about 8%. With lease listings down about a sixth and completions set to fall, the share measures how few homes are coming up to let.
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Seoul's mayor still refuses housing on the Yongsan Park main grounds, but he has now put a Gangnam sewage plant on the table. The talks stop being about whether and start being about which land.
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Finance and Economy, Land and Infrastructure and SMEs all change hands inside a ten-post announcement. The opposition has already named the Justice nominee as the fight that will set the hearing calendar.
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Seoul's apartment leases above 3 million won a month rose 9.7% to 6,570 through September 22, and every added contract came from the 22 districts outside Gangnam, Seocho and Songpa, where the count fell by three.
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Korea Real Estate Board figures put Seoul apartment jeonse up 7.79% by the second week of September, the steepest run since 2015, and the 1 billion won contracts are now signing in Seongbuk and Dongdaemun, well outside the Han River belt.
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Jeju added 603 unsold homes in the three months to July, a record backlog made up mostly of finished buildings standing empty, while the island's average presale price for new apartments still trails only Seoul's.
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The Ministry of Land moved the basic construction cost benchmark to 2.328 million won a square meter on the 15th, and 59,000 won of the 91,000 won step came from indirect costs tied to site safety. On the ministry's own 110-square-meter example that adds 10.01 million won.
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Korea's three-year treasury yield went above 4% in the same week that opposition lawmakers put Seoul's housing starts at well under 60% of their decade average. The National Assembly spent the day arguing about capital-gains deductions.
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Seoul's row houses already average above the 400 million won ceiling, and the officetels below it average 28 square meters. The credit is real; the eligible housing largely is not.
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The FSC relocation plan reaches Cabinet this week. The agency trades address for institutional survival, while supervised firms in the capital region absorb the access cost on an unpublished timeline.
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Samsung and SK hynix cannot start their four-plant Honam plan until Gwangju's air base moves. That now runs through a Muan County land bargain and a vote on the 28th.
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