Politics · South Korea · 1 hr ago
Lee Calls for Faster Public Works and More Housing Construction
At a cabinet meeting in Seoul on October 27, President Lee Jae-myung called for faster public projects with slow spending and more housing construction.
He said the government should raise housing starts and consider credit or budget support if needed.
Lee said people are still waiting for a stronger recovery in daily life, despite strong headline economic indicators.
He also pointed to gaps in income, assets and jobs, and difficulties facing young people.
His proposed approach is to use available fiscal capacity to invest in advanced industries and support domestic demand, aiming for sustainable growth that people can feel.
Lee said stronger growth could expand the economy, stabilize the debt ratio and strengthen public finances.
He urged the government to focus on measures that lay the groundwork for future growth and a more secure fiscal position.
South Korean President Lee Jae-myung called for faster implementation of stalled public works and more housing starts.
He said the government should consider financial support, as well as public credit support, for housing construction if needed.
Lee said stronger, sustainable growth was needed to address slow household recovery and persistent gaps in income, assets and jobs.
He called for expanding investment in advanced industries, boosting domestic demand and using policies that people can feel in their daily lives.
Lee cited Europe’s difficulties as a warning about the effects of low growth, while cautioning against drawing overly broad conclusions from overseas examples.
- Who
- South Korean President Lee Jae-myung.
- What
- He called for speeding up public works, increasing housing starts and considering financial support for construction.
- When
- October 27, 2026.
- Where
- A Cabinet meeting at Cheong Wa Dae in South Korea.
- Why
- Lee said sustainable growth was needed to address slow household recovery, economic gaps and difficulties facing young people.
This story does not have two clearly opposing sides.
Lee made his remarks while chairing a Cabinet meeting at Cheong Wa Dae.
The Korea Grand Festival, a national event covering consumer goods, agricultural, livestock and fishery products, and tourism products, was due to begin.
- Meeting date
- October 27, 2026
- Meeting place
- Cheong Wa Dae
- Housing policy
- Increase housing starts and consider financial support if needed
- Growth priorities
- Advanced-industry investment and domestic demand
- Korea Grand Festival
- Due to begin October 29
What people are saying
Public works with slow execution should be accelerated, and housing starts should be raised as much as possible.
If necessary, I ask you to consider not only national credit support but also financial support.
The biggest and most fundamental cause is ultimately low growth.