South Korea Faces 'Real Estate Blue'... Policy Opposition Protests Across Seoul and Gyeonggi

Thousands of Citizens Gather Despite Rainy Weather
Strong Opposition Rally Against Retroactive Application of Seoul Yeouido 6·17 Regulations
Protest Against Housing Supply on Idle Land at Gwacheon Government Complex, Gyeonggi

[Image source=Yonhap News]

[Asia Economy Reporter Onyu Lim] "The entire nation is on the verge of developing 'real estate anger management disorder,' surpassing 'real estate blues' (depression). Has there ever been a regime that caused such mental anguish and material damage to its people?"

On the 8th, despite bad weather in Seoul, Gyeonggi, and other metropolitan areas, protests against the government's real estate policies were held one after another. In Yeouido, Seoul, a rally was held to protest the amended Housing Lease Protection Act and the government's stringent real estate regulations, while in Gwacheon, Gyeonggi, thousands of citizens gathered to oppose the government's plan to supply idle government office land.

Seoul Yeouido 'Strong Opposition to Retroactive Application of June 17 Regulations' Rally: "Is Owning a House a Crime?"

On this day, across from the LG Twin Towers on Yeoui-daero in Yeouido, Seoul, a rally titled 'Strong Opposition to Retroactive Application of June 17 Regulations' was held to protest the enforcement of the amended Housing Lease Protection Act, which includes the introduction of the right to request contract renewal and limits on rent increases, as well as the government's stringent real estate regulatory policies.

The rally was hosted by groups such as the 'June 17 Regulation Retroactive Application Victims' Association,' the 'July 10 Acquisition Tax Retroactive Application Victims' Association,' and the 'Lease Business Association Steering Committee.' Although heavy raindrops fell shortly after the rally began, participants paid no heed, wearing raincoats or using umbrellas, filling about a 200-meter section of three lanes and sidewalks. According to the organizers, approximately 1,000 people gathered at the rally.

Kang, a man in his 40s and representative of the June 17 Real Estate Malpractice Prevention Committee, said, "The Moon Jae-in administration promised to create a 'fair country,' but it is trampling on ordinary people and deepening the wealth gap like this," adding, "The attempt to remove Presidential Secretary No Young-min is just a farce."

He continued, "We, who are campaigning against the real estate malpractice laws, are not 'reactionary pro-Japanese collaborators' but sincere, ordinary heads of households in their 30s and 40s, landlords, and self-employed people of the Republic of Korea," emphasizing, "We have the right to protect and enjoy our freedom."

Following Kang, Lee Dong-wook, president of the Gyeonggi Medical Association, took the podium, saying, "The weather is bad and it's tough, but I came out because this country’s real estate has collapsed," and questioned, "They say it's a punitive taxation policy, but is owning a house or property a crime?" He added, "We will no longer be deceived by socialist scams."

Between speeches, participants held signs reading "Unconstitutional Lease 3 Laws," "Abolish Retroactivity, Overthrow Unconstitutionality," and "The People Are Not Dogs or Pigs," shouting slogans such as "If public rental housing is good, ruling party members should live in rentals first," and "Do not build public rental housing without local residents' consultation."

After the rally, participants planned to march to the Democratic Party headquarters as a form of protest. An organizer stated, "If the government’s attitude does not change, we plan to hold rallies every weekend." They also plan a large-scale candlelight rally on August 15, Liberation Day.

The organizers announced that while continuing the rallies, they intend to file a constitutional lawsuit challenging the unconstitutionality of the government’s measures to restore landlords’ damages.

[Image source=Yonhap News]

Gwacheon Central Park 'Opposition to Housing Supply on Gwacheon Government Office Idle Land' Rally: "A Space for Future Generations"

"Immediately withdraw the unilateral reckless development."

At 7 p.m. that day, a rally was held in front of the fountain at Gwacheon Central Park opposing the government’s policy to supply housing on the Gwacheon Citizens’ Plaza, an idle land of the Gwacheon Government Office. According to the organizers, the 'Gwacheon Citizens’ Plaza Defense Committee,' more than 3,000 citizens participated.

A committee official said, "The government’s plan to supply public housing on the Gwacheon Government Office idle land was announced unilaterally," adding, "This not only ignores the resting space that is like the heart of Gwacheon citizens but completely disregards Gwacheon City and its citizens." He continued, "We cannot stand by as precious resources for future generations are wasted through reckless development," demanding, "The government must immediately withdraw this housing supply plan."

The citizens filling Central Park each held and waved leaflets reading "Absolute Defense, Complete Withdrawal," and banners stating "Strong Opposition to Reckless Development of Gwacheon Heart," and "Supply for Seoul Should Be at Gwanghwamun Plaza" were installed throughout the plaza. On one side of Central Park, a citizen signature campaign and fundraising drive demanding the withdrawal of reckless development of Gwacheon Citizens’ Plaza were also underway.

A 50-year-old citizen named Lee said, "We are not opposing the supply of rental housing," explaining, "Gwacheon Citizens’ Plaza is a resting place filled with memories and affection for Gwacheon citizens, much like Seoul Plaza."

At the rally, Kim Hyun-seok and Park Sang-jin, members of the Future United Party of the Gwacheon City Council, shaved their heads alongside citizens to show their commitment to protecting Gwacheon Citizens’ Plaza. The committee decided to continue holding rallies every Saturday until the government withdraws the housing supply plan for Gwacheon Citizens’ Plaza.