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Seoul Mayor Oh Se-hoon stated that the governments housing policies have ironically acted as a catalyst for rising housing prices. In a recent post on social media on the 26th, he urged the government to courageously revise the policies introduced in the 10·15 measures and to ease regulations to promote redevelopment projects, including the abolishment of the excess profit recovery system for reconstruction.

Mayor Oh pointed out that the primary reason for the increase in housing prices is the lack of a supply signal within the governments strategies. He emphasized that even the 9·7 measures, which were the only supply strategy, lacked specificity, leading to skepticism about their effectiveness and dampening expectations for supply.

He criticized the ruling party for blaming him while ignoring the core issues at hand. "The supply of housing through redevelopment projects is a long process of sowing seeds and reaping fruits," he explained, noting that the redevelopment areas designated during former Mayor Lee Myung-baks tenure began to yield results during his first term, and seeds planted then bore fruit during former Mayor Park Won-soons administration.

Oh expressed concern about the state of redevelopment projects during his ten-year absence from the mayoral office, lamenting that much of the groundwork had been destroyed. He recounted feeling distressed seeing over 389 redevelopment areas and more than 430,000 housing units deregulated. "It felt like my heart was bleeding," he remarked, questioning the Democratic Partys right to demand results after having disrupted the progress.

He further stated that he has begun to sow seeds again in the barren land and introduced a rapid integrated planning system to shorten the time needed for redevelopment. However, he remains critical of the governments 10·15 measures and their impact on redevelopment projects.

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