Minister of Land, Infrastructure and Transport Park Sang-woo said he is in favor of abolishing a system of recovering excess profits from reconstruction.

Appearing on a KBS program on Sunday, the minister issued the position, saying that the system was created to block reconstruction.

Park said that the Yoon government takes the position that it is time to ease regulations on reconstruction and may provide support if possible.

The minister also presented a negative stance on the comprehensive real estate holding tax, saying that the tax was introduced as a form of punitive tax to prevent excessive real estate profits, but it runs counter to the principles of taxation.

Imposed separately from property taxes collected by local governments, the comprehensive real estate holding tax is levied annually by the central government on individuals who own homes and property exceeding certain amounts.

Regarding the relocation plan for the first new towns in the capital region, which will go through reconstruction sequentially, Park said that the government will draw up the plan through a survey of residents in the towns.