Roh Backs Apartment Price Disclosure

The government is reviewing a plan to open the sale cost of apartments to public starting as early as April. This would apply to not only public sector but also the apartments constructed by private corporations.

However, it is expected to face strong criticism because it is against to the market principle to open the cost of apartments in the middle of distribution. Furthermore, this could lead to the reduction of apartments in the market.

President Roh appeared in a TV program, “100 Minute Discussion” on September 28 and said, “The government will open (the cost) to a public as much as possible”.

The Ministry of Construction and Transportation (MOCT), which in charge of this issue, immediately took follow-up measures such as setting up a committee for improving the apartment pricing system.

The president said, “Now I can’t disagree with the price opening because many people and a number of citizens’ groups insist on it.”

He also commented, “I made an objection to opening the cost price because this is a really complicated issue and we need to be careful about the decision, but now, most people want to open the cost, so I can’t help following them. It is irresistible.”

Regarding this, the MOCT stated, “Every possible measure will be scrutinized and considered about the object and the level of revealing the price cost of apartments. The enforcement of the measure will be possible from next April if it is early.”

Park Seon-ho, the head of housing policy division of MOCT, said, “Some practical methods will be developed to minimize side effects on opening the price through expanding land for housing lots, increasing residence supply in public sectors, etc.”

There are some analysts stating the reason President Roh changed his attitude towards opening prices of apartment is due to the burden of the strong demand on opening price among politics and civil society, which is triggered by the recent controversy over the high apartment prices in Pangyo and Eunpyeong New Town.

President Roh mentioned about the recent movements of forming a new political circle in politics, saying, “I hope they don’t make instant parties just for victory of the election or political interests. It is undesirable to make a party for election use.”

As for the six-year appointment of Constitutional Court chief judge candidate Jeon Hyo-sook, he said, “It is the matter of the right of appointer to choose a person and wish the one whose political attitude is progressive works for full tenure. There was an opinion inside the Court that (Jeon’s) incomplete tenure would face with difficulty when considering the Constitutional Court’s reputation.”

President Roh touched upon ‘the unified approach in the six-party talks’ which was discussed for the resumption of the six-party talks, saying, “North Korea hasn’t yet shown any negative opinions on this matter.”