Experience of the 2004 administrative capital relocation shows minimal effect on stabilizing Seoul home prices
He explained that during the construction of Sejong City, large-scale housing supply and the large-scale relocation of administrative capital functions took place, but whether this actually stabilized prices in Seoul has not been clearly demonstrated. His judgment is that relocating service industries centered on civil servants and public corporations, rather than moving private large corporations, makes it hard to expect a large relocation effect like that of manufacturing.
