"It Is Not Possible to Bring Down Gangnam Apartment Prices"
Joo Ho-young, floor leader of the United Future Party, is attending an emergency party meeting held at the National Assembly on the 30th and delivering opening remarks. Photo by Yoon Dong-joo doso7@
[Asia Economy Reporter Lim Chun-han] Joo Ho-young, floor leader of the United Future Party, criticized the government and ruling party on the 2nd, saying, "What is the difference between real estate and cash? Governors and senior ruling party lawmakers who own tens of billions in cash and stocks are vehemently claiming that 'owning two houses is a crime.' According to that logic, it is only right to also impose suffering on stock and cash tycoons."
On the same day on Facebook, Floor Leader Joo said, "There are ruling party lawmakers who want to specify 'one household, one house' in the Constitution. If so, shouldn't the Constitution be amended to punish those who hold stocks and cash exceeding the standards set annually by the state and forcibly collect the excess?"
Floor Leader Joo pointed out, "Only labor income earned by my own hands and feet should be recognized; value creation by capital and land cannot be acknowledged and should be eliminated by the state; all private ownership should be confiscated by the state. This is the bold social reform plan proposed by Karl Marx 150 years ago?communism."
Floor Leader Joo stated, "Our state power and administrative power are arrogantly trying to crush real estate prices, especially apartments in Gangnam, through regulation and taxation. This is not only impossible but also something our Constitution advises restraint against."
Floor Leader Joo said, "Real estate legislation that will completely abolish the jeonse system in this land was handled like a military operation. It passed the plenary session, and ruling party lawmakers cheered loudly. The crude logic that 'the people gave us 176 seats, so we can do anything in the National Assembly' is rampant. If the Constitution hinders catching Gangnam real estate, then we will amend the Constitution as well. This is a solution proposed by a responsible person in the ruling party."
Floor Leader Joo said, "The train called the Republic of Korea is derailing from the track called the Constitution. There seems to be no way to stop it. The ruling power that is destroying the system and Constitution of the Republic of Korea is something our generation has never experienced before. There is a growing fear that the next generation may not be able to live under the blessings of a market economy and liberal democracy."
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