• On September 21, Mayor Oh directly answered 11 commonly asked questions during three sessions at the “Seoul’s Housing Policy” event.
• 496 places are under urban renewal projects. 214 Sintong Projects with 307,000 units, and 168 Moa Town Projects with 43,000 units are on track.
• By 2031, construction of 310,000 units will be started through renewal projects. Seoul will proceed quickly with construction and move-ins, as well as renewal area designation.
• 131,000 new public housing units over the past five years, and an additional 130,000 units to be built by 2031. Tangible outcomes from Mirinae Housing and Youth Safe Housing.
• A revived housing ladder: 38,000 units in the long-term jeonse program, which reduced housing costs by 10 trillion won.
• Mayor Oh stated, “The true outcomes of housing policy must be proved by the lives of people. We will not stop the clock of housing supply.”

SEOUL, SOUTH KOREA, September 23, 2026 – On September 21 (Mon), the Seoul Metropolitan Government hosted the <2026 Seoul Housing Policy Performance Sharing Event – This is how Seoul’s housing policy has been different> to share changes in housing policy since 2021, outcomes, and plans for housing supply. Seoul Mayor Oh Se-hoon led the whole event in a self- Q&A format to address frequent questions from the public and journalists.

The event was mainly threefold: 1) Urban Renewal Project -“Restart the clock of housing supply,” 2) Public Housing – “Stable supply of public housing, now and going forward,” and 3) Housing Ladder – “From reducing housing costs, to building financial assets, and gaining homeownership.”

<Session 1: Urban Renewal Project – “Restart the Clock of Housing Supply”>

Q1. Near-Zero New Housing Supply in Seoul: Is It Going to Be Resolved?

The Mayor pointed to the normalization of reconstruction and redevelopment in the city as the most significant change over the past five years, after a long period of stagnation. The city has selected new urban renewal zones an average of 35 times per year, twice the annual average of 17 over the past ten years. Currently, urban renewal projects are underway in 496 areas within the city. The goal now is to expedite the urban renewal projects so construction and move-ins can be completed as quickly as possible. So far, 50% of this year’s construction-completion goal has been reached. The longer-term goal is to complete construction for the new 310,000 households by 2031, while the city government will closely monitor the entire urban renewal process.

As housing prices in the city are influenced by a combination of factors, including interest rates, the macroeconomy, and supply and demand, Mayor Oh emphasized that the fundamental solution for stabilizing the housing market with a mid- to long-term perspective is to continuously provide a sufficient supply of housing.

Q2. After the Government’s August 13 Policy Announcement, Why Does It Need to Keep Lifting Regulations?

Although the government’s August 13 measures reflected some of the urban renewal plans the SMG has suggested for years, Mayor Oh said regulations that undermine the feasibility and progress of housing projects must be improved to enable construction and occupancy.

Q3. Why Do You Not Hand Over Urban Renewal Projects with Under 500 Household Units to Local District Governments?

Regarding transferring authority over urban renewal projects involving 500 household units or fewer to local district governments, Mayor Oh said the transfer may spark controversy over fairness among district governments and conflicts among residents, and it may not ensure speedy progress or uphold urban planning principles.

Q4. Why Do You Say Yes Only to Tancheon Stream and No to Yongsan Park and the Green Belt Zones?

Mayor Oh reaffirmed that the green belt areas and Yongsan Park are green environments we must protect intact for future generations. He explained, however, that relocating the Tancheon Wastewater Treatment Center would not harm any existing green space and would make the most of existing urban infrastructure to create housing, parks, and industrial facilities at the same time, making this plan an entirely different idea.

<Session 2: Public Housing – “Stable supply of public housing, Now and Going Forward>

Q5. Why Do You Care Only About Private Renewal Projects and Neglect Public Housing?

The supply of public housing was steadily increasing, as were private urban renewal projects. Since 2021, the SMG has provided 131,000 household units as public housing, secured through the public share of private renewal projects, the direct supply by Seoul Housing and Urban Development Corporation (SH), the government-purchased housing for rental program, and other forms. As of now, Seoul has 410,000 public housing units, and around 68% were supplied by SH.

Q6. Is There Not a Lack of Support for Public-Sector Participation in Private Urban Renewal Projects?

In fact, the public sector led housing projects that private entities found difficult to carry out, reinitiating halted projects. For example, Ahyeon Area 1 in Mapo-gu and Pungnap Toseong Moa Town in Songpa-gu were carried out thanks to SH’s participation.

Currently, the SMG is working to create 43,000 units in 37 areas through public redevelopment and reconstruction projects, and 15,000 units in 23 areas through Moa town projects, in which public institutions are involved. Mayor Oh said the city government will further expand a model in which the private and public sectors work together on housing supply by strengthening incentives for public contributions and normalizing the purchase price of public rental housing

Q7. Is There an Outcome in Birth Rates from the Mirinae House Project? Is The High Security Deposit Not Problematic?

Mirinae House, a long-term housing lease (jeonse in Korean) for newlywed couples, has shown results in housing stability and birth rates. According to a survey of residents, 82 children were born in 79 households out of the 216 households that participated. The average annual number of newborns per household was about 1.7 times higher than the national average for newlywed couples.

Q8. There Have Been Zero Permits And Approvals For Youth Safe Housing Projects. How Can It Supply 46,000 Units by 2030?

To date, approximately 35,000 Youth Safe Housing units have been supplied since the first construction of its kind. Moreover, the resident satisfaction rate stands at 93.7%. Mayor Oh explained that the policy outcomes and the demand among young people and newlyweds have been clearly demonstrated.

Q9. Has the Shift (long-term jeonse housing) actually been serving as a housing ladder?

It is shown that Shift – the long-term jeonse housing program – has supplied a total of 38,000 units to date since its inception 20 years ago, helping alleviate housing costs for middle-income families and serving as a stepping stone toward homeownership. The average deposit is about 41% of the average jeonse deposit for apartments in the city, saving residents around 10 trillion won in housing costs.

<Session 3: From Reducing Housing Costs, To Building Financial Assets, and Gaining Homeownership>

Q10. Is Seoul providing sufficient houses for young adults?

The SMG supplied 35,000 units for young adults from 2021 to 2025. Various types of houses are tailored to young adults’ income levels and life cycles, including college students, entry-level employees, and newlyweds. In particular, more of these houses will be supplied going forward, located around subway stations and close to business areas, bringing the total to 74,000 units.

Q11. What measures should be taken to ease the burden of housing costs amid rising jeonse deposits and monthly rents, and loan regulations?

In addressing the “triple burden”, referring to rising jeonse deposits and monthly rents, and tighter loan regulations, the SMG has been expanding monthly rent support for young adults, interest rate support for jeonse and monthly-rental deposits, and other direct housing cost support programs.

Mayor Oh said, “For over the past few years, there have been many questions and criticisms about Seoul’s housing policy. Today I took the role of a star lecturer and gave an in-person lecture to answer those questions with numbers and facts. We will make sure that the three achievements-rerunning the clock of urban renewal projects, more public housing supply, and a strong housing ladder- lead to the stability of housing for citizens and actual move-ins to houses. He went on to say that “the true outcomes of housing policy must be proved by the lives of people. We will not stop the clock of housing supply. We will continue to expand housing supply to make sure that young adults, newlyweds, citizens without their own homes, middle-income citizens, and everyone can still have hope of homeownership in the city of Seoul.”