Chong blames Oh for housing woes, unveils expanded support plan for young renters

Ruling Democratic Party of Korea's Seoul mayoral candidate Chong Won-o speaks during a press conference in front of Seoul City Hall in Jung District, Seoul, Monday, as he unveils housing-related campaign pledges, including expanded support for young renters and newly married couples. Yonhap

The ruling Democratic Party of Korea's (DPK) Seoul mayoral candidate Chong Won-o on Monday unveiled a package of housing measures aimed at easing financial pressure on young people and newly married couples, while accusing rival Oh Se-hoon of mismanaging the city’s housing policy and contributing to the worsening rental market.

Speaking at a campaign event in front of Seoul City Hall, Chong announced three housing stability plans for young adults and newlyweds, centered on expanded rent subsidies, additional housing supply and broader support for youth housing.

Housing affordability and rising rent burdens have emerged as major issues in the Seoul mayoral race, particularly among younger voters struggling with high deposits and monthly rents.

Chong argued that Seoul’s current rental difficulties stem from what he described as policy failures under Oh, the incumbent mayor and People Power Party's mayoral candidate.

“The housing difficulties facing young people in Seoul today are clearly the result of housing administration failures under Oh Se-hoon,” Chong said.

As part of the plan, Chong pledged to expand the city’s monthly rent support program for young adults from the current 20,000 beneficiaries per year to 50,000.

Under the proposal, recipients would receive 200,000 won ($133) per month for one year, with the program reaching a cumulative 200,000 people over a four-year mayoral term.

Chong said immediate relief was needed as rising housing costs continue to weigh on young people’s daily lives.

“Young people are cutting back on time with friends and even reducing study hours because they need extra part-time work to cover rent,” he said.

The candidate also proposed supplying 10,000 affordable ownership homes for newly married couples alongside 30,000 public rental units.

The ownership program would rely on models such as equity-sharing housing, land lease arrangements and profit-sharing structures designed to lower upfront purchase costs.

Under the equity accumulation model, residents would initially purchase only a portion of the property — roughly 15 to 25 percent — and gradually increase ownership over a period of up to several decades.

Chong said the approach could help younger households enter the housing market without large initial capital.

His housing package also included a pledge to provide 50,000 youth housing units, consisting of 7,000 dormitory spaces, 20,000 “shared coexistence housing” units and 23,000 public rental homes.

The coexistence housing model, first introduced during Chong’s tenure as mayor of Seongdong District, combines support from local governments, schools and housing agencies to lower rent and deposit burdens for students and young residents.

Chong said he plans to expand the model across Seoul and create more youth-friendly residential areas around university districts.

The candidate additionally promised to accelerate housing construction, pledging early groundbreaking for 87,000 housing units by 2027, including redevelopment projects, reconstruction of aging public housing complexes and additional rental housing supply.

He also criticized the Seoul Housing and Urban Development Corporation (SH), arguing it should return to its core role as a public housing agency.

“SH should be restored as a housing welfare institution,” Chong said, criticizing the agency’s involvement in projects such as the Hangang Bus initiative.

This photo shows the underground complex development site along the GTX-A line in Seoul’s Gangnam District, Sunday, where missing reinforcing bars were discovered in the Samsung Station section. Yonhap

GTX construction scandal enters race

Chong also continued his criticism of Oh over the GTX-A Samseong Station construction controversy, which became a new flash point in the Seoul mayoral race.

The dispute centers on missing reinforcing bars discovered at the underground section of the GTX-A Samseong Station transfer center, a five-level underground complex designed to integrate subway, bus and commercial facilities.

Chong described the incident as a symbol of “safety complacency,” accusing the Seoul city government of failing to respond adequately.

He again called on Oh to disclose when he was first informed of the issue and what actions were taken afterward.

Chong also questioned the city’s reporting process, claiming the issue had been buried in routine documents rather than being handled as a stand-alone safety matter.

The DPK has sought to link the controversy to broader criticism of Oh’s management of city affairs, arguing the case reflects weaknesses in safety oversight.

Oh, however, has rejected the accusation, saying the issue stemmed from construction errors by Hyundai Engineering & Construction, and accusing Chong of politicizing the incident.