President-elect Yoon Suk-yeol’s nomination of politician and former Jeju governor Won Hee-ryong as Minister of Land, Infrastructure and Transportation shows that he considers real estate issue as a political agenda and is determined to come up with a working solution.
“I believe he is the optimal candidate that will provide sufficient supply of homes where there is demand, which will stabilize the real estate market, design fair access and metropolitan transportation framework, the key to balanced development,” Yoon said in a press conference held on Sunday. Won is a leading figure within the People Power Party, a three-time legislator and former governor of Jeju.
Won’s nomination had been predicted in political circles given that he earned strong trust from Yoon, leading his presidential campaign for Policy Affairs overseeing political platforms. Won is currently serving as the chairman of the Planning Committee for the Presidential Transition Team. During the presidential election, Won raised real-estate related suspicions on the Daejang-dong scandal of ruling party candidate Lee Jae-myeong, recognized for his contribution to winning the election.
Pundits say that power struggle between the ruling and opposition parties could happen over dealing with real-estate issues, which has grown more complicated and political than ever. Won has pledged to scrap current tenant laws since he ran for presidential primary race. He is likely to implement major changes to current real estate policies. “I will aim for high stability and caution when dealing with issues that unnecessarily impact real-estate prices,” said Won.
Sung-Hwi Kang firstname.lastname@example.org