President Lee suggested that families with more than three children should be able to find a residence earlier than others, and also be given privilege to buy houses at lower prices, at a meeting of the emergency economic council at Cheong Wa Dae Thursday (Feb. 26).

The low birthrate in Korea is emerging as an important national issue, and alternative measures [such as to lower housing prices] should be taken, Cheong Wa Dae spokesperson Lee Dong‐kwan quoted the President as saying.

Lee explained that construction materials prices have fallen, affected by the economic slowdown, which works as an opportunity to provide homes to renters and young people. Such efforts will eventually bring about an economic turnaround and increase welfare benefits for the public, he added.

Lee emphasized that houses should be given to those who really need them, and that new cities, which will provide new residences, should be built within the metropolitan region. Currently, new city construction mainly takes place on the outskirts of Seoul, he said.

President Lee ordered the Finance and Construction Ministers to fly over Seoul and its environs in a helicopter. "Seen from above, green belt zones neighboring Seoul are only filled with plastic greenhouses." He said those areas could be used to accommodate a lot of people seeking a place to live.

Mentioning that government‐led projects only are not sufficient for an economic rebound and job creation, Lee emphasized the importance of the private sector and investment. He called for intense support of city mayors and provincial governors for their efforts.