South Korea may announce more Seoul public housing sites this year

South Korea’s land minister said more public housing sites could be announced in Seoul this year if the city cooperates.

Hong Ji-seon made the offer during a visit to the Sanggye 2 redevelopment area on October 30 and said he was arranging talks with Seoul Mayor Oh Se-hoon.

The government’s latest plan named six new housing sites outside Seoul, leaving the capital out of its October 29 announcement.

The government and city have disagreed over possible development of land being returned from a US military base, including the Yongsan park area, which Seoul opposes.

The two sides must work through that disagreement before agreeing on additional sites.

The government also says it will support construction starts in Seoul redevelopment projects and mediate disputes over building costs.

Whether new Seoul sites are announced this year depends on cooperation, and the government expects rising apartment prices in the city to slow, partly depending on interest rates.