President Moon Jae-in has instructed Land Ministry officials to significantly increase housing supply. 

Moon gave the instruction on Tuesday while being briefed by the ministry on its annual policy plans at the presidential office. 

Moon said there is a need for “groundbreaking expansion” in housing supply through additional methods to existing policies and stressed that real estate policies should be the ministry's most urgent task. 

He said although the ministry has made substantial efforts to achieve housing welfare goals, it will have difficulty gaining public recognition unless it realizes the stabilization of housing prices. 

The president urged the ministry to work toward swiftly stabilizing housing prices and rental prices, so much so that it stakes its fate on it. 

Moon stressed innovative ways of supplying houses and substantially increasing the number of public housing units available in central urban areas. He wished success for the housing supply methods of new Land Minister Byun Chang-heum, calling for an end to housing shortages that cause public concern.