Lee In-young "Opposite Real Estate Pledges, Bill Passed by General Election Results" Korean Party "Activist Mindset"

Lee In-young, floor leader of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 21st and delivering a speech. Photo by Yoon Dong-joo doso7@

[Asia Economy reporters Park Cheol-eung and Kim Hye-min] Lee In-young, floor leader of the Democratic Party of Korea, proposed legislating the real estate pledges of both ruling and opposition parties according to the outcome of the general election, including the comprehensive real estate tax (종부세, Jongbu-se). It is a kind of 'real estate general election' gamble.

On the 21st, Lee appeared on MBC Radio's "Kim Jong-bae's Focus" and said, "In this general election, the relevant (real estate) policy directions and bills are put forward as pledges, and we accept the election results and open the last National Assembly once more around late April or May to decide whether to pass the bills. I think this is one way."

The Liberty Korea Party announced real estate pledges on the 16th, including easing mortgage loan standards, abolishing the price ceiling system for pre-sale apartments, and relaxing redevelopment and reconstruction regulations. Unlike the government and ruling party's regulation-centered real estate policies, the core is to ease regulations.

Lee said, "Representative Lee Hae-chan also mentioned at a press briefing on the 16th that holding taxes should be increased and transaction taxes lowered," adding, "Overall, since the comprehensive real estate measures on December 16 last year, prices have stabilized, but the Korea Party is putting forward pledges such as abolishing the price ceiling system and easing loan regulations for two houses per household." He continued, "Since opinions are expressed in completely opposite directions, it will not be easy to be optimistic about the follow-up legislative process on real estate." This can be interpreted as a proposal to accept the election results and decide the direction of real estate policy if it is realistically difficult to find common ground.

He also expressed the position that raising the comprehensive real estate tax rate is necessary. Lee said, "Our party member Kim Jung-woo proposed such a bill (to raise the tax rate for owners of three or more houses) around the end of December last year, and it is a proposal worth considering," adding, "Personally, I also think that owning three or more houses, especially owning two or more houses in speculative or speculative adjustment areas, does not align well with the common sense and expectations of the public."

In response, Kim Jae-won, chairman of the policy committee of the Korea Party, strongly criticized, saying, "This is not an 'all or nothing' issue," and "It is a mindset of the activist group. It is an absurd idea that the 386 activist group will do anything once they seize power." This appears to be a stance that cannot accept linking the ruling party's real estate policies to the general election results and legislating them accordingly.