Politics · South Korea · 1 hr ago
Seoul blames Park-era policies for weakening long-term housing supply
The Seoul city government blamed policies under former Mayor Park Won-soon for weakening the capital’s long-term housing supply.
A city analysis found that 389 of 683 improvement areas were canceled from 2012 to 2020, when Park was mayor.
The city said those cancellations removed the opportunity to build about 430,000 homes.
Park’s administration favored urban regeneration focused on preservation rather than large-scale redevelopment or reconstruction.
The assessment comes as housing shortages have contributed to sharply rising prices in Seoul and Mayor Oh Se-hoon faces criticism over his private-led housing policy.
The city plans to break ground on about 310,000 homes by 2031 through redevelopment and reconstruction projects.
Seoul’s city government blamed policies under former Mayor Park Won-soon for weakening the capital’s long-term housing supply.
A city report said 389 of 683 areas designated for improvement projects were canceled between 2012 and 2020.
The report said those cancellations removed the opportunity to supply roughly 430,000 homes.
The assessment comes amid housing shortages that have contributed to sharply rising home prices.
The city plans to break ground on about 310,000 housing units by 2031 through redevelopment and reconstruction.
- Who
- The Seoul city government blamed policies pursued under late former Mayor Park Won-soon.
- What
- A city report said cancellations of improvement projects weakened the foundation for long-term housing supply.
- When
- The report was issued on Friday, October 16, 2026; it examined policies over the past 20 years.
- Where
- Seoul, South Korea.
- Why
- Recent housing shortages in the capital have contributed to sharply rising home prices.
This story does not have two clearly opposing sides.
While Park Won-soon was mayor, 389 of 683 areas designated for city improvement projects were canceled.
Seoul’s city government released a report blaming Park-era policies for weakening the foundation for long-term housing supply.
The city plans to break ground on about 310,000 housing units through redevelopment and reconstruction.
- Canceled improvement areas
- 389 of 683
- Estimated housing opportunity lost
- Roughly 430,000 homes
- Park’s mayoral period covered in the report
- 2012–2020
- Planned housing construction
- About 310,000 units by 2031