Oh Se-hoon Leads in Seoul Mayoral Race, Focuses on Youth Housing Amidst Real Estate Concerns

Seoul Mayor Oh Se-hoon is currently the frontrunner in the 2026 Seoul mayoral election, with a significant lead in the latest Polymarket predictions. As the election approaches, Mayor Oh has been actively addressing concerns surrounding real estate, particularly the challenges faced by young people in finding affordable housing.

Current Polling Data

As of March 10, 2026, Polymarket data indicates that Oh Se-hoon has a 79% chance of winning the election. His closest competitor, Chong Won-oh, trails with 15%. Other candidates, including Park Ju-min (3.5%) and Ahn Cheol-soo (1.1%), have significantly lower probabilities according to the market. Source: Polymarket

Criticism of Previous Real Estate Policies

Mayor Oh has recently criticized the real estate policies of the previous administration, led by Lee Jae-myung, citing a sharp decrease in available rental properties in Seoul. According to Mayor Oh’s statements on March 10th, the number of rental properties in Seoul decreased by 33.5% between February 2025 and February 2026, falling to 19,000 units. He argues that these policies have disproportionately impacted young people, who are now facing monthly rents exceeding 1 million won for small studio apartments.

Novel Youth Housing Initiatives

In response to the housing crisis, Seoul City has announced “The Dream House Plus,” an integrated youth housing brand aimed at providing 74,000 housing units tailored to the needs of young people by 2030. This initiative will focus on providing financial and housing cost support to alleviate the burden of rent and facilitate homeownership for young residents. Source: The Hankyung

Political Context and Election Strategy

Oh Se-hoon, who previously served as mayor of Seoul from 2006 to 2011 and has been in office since 2021, did not register his candidacy with the People Power Party (PPP) by the deadline on March 8th. Source: The Korea Times This decision comes amidst a party strategy to select candidates through a competitive “Korean Series” style process. Mayor Oh has expressed the need for the party to prioritize policies that enhance competitiveness in the Seoul metropolitan area. Source: The Korea Herald

Background on Oh Se-hoon

Oh Se-hoon is a South Korean politician and lawyer born on January 4, 1961. He is affiliated with the People Power Party and has a background in law, having earned an LLB from Korea University. Source: Wikipedia

Key Takeaways

• Oh Se-hoon is the strong favorite to win the 2026 Seoul mayoral election.
• The mayor is focusing on addressing the housing crisis, particularly for young people.
• Criticism of previous real estate policies is a central theme of his campaign.
• Seoul City is launching new initiatives to increase housing supply and affordability.