President Lee urges swift cuts to building approvals to expand housing supply

At a Cabinet gathering, President Lee Jae Myung stressed the need to shorten administrative procedures that delay new home building. He pointed to a decline in construction permits and a shortage of developable land in the last three years as key factors behind one outlet supply crunch. Lee asserted that stable housing underpins practical improvements in everyday life.

He directed government officials to expedite land preparation and grant building permits without being hindered by customary practices. The president emphasized that swift, large-scale housing measures are required to counteract runaway price growth. He framed the effort as a decisive step toward stabilising the real-estate market.