[Asia Economy Reporter Wondara] Jin Seong-jun, Chairman of the Strategic Planning Committee of the Democratic Party of Korea, stated that "since 80% of household assets are made up of real estate, a real estate supervisory agency larger in scale than the Financial Supervisory Service should be established," emphasizing the need to set up a separate Real Estate Supervisory Agency.
On the morning of the 12th, Jin appeared on KBS Radio and was asked, "President Moon Jae-in mentioned establishing a supervisory agency for the real estate market. How should we view this?" He replied, "Similar to the Financial Supervisory Service that oversees the stock and financial markets, I think a separate agency like a Real Estate Supervisory Agency should be established with compulsory investigation authority and sufficient personnel and organization to proactively respond to illegal activities."
When asked, "Are you saying an organization comparable to the Financial Supervisory Service is being considered?" he answered, "It may not be possible to establish one of that scale immediately, but currently, we are unable to actively crack down on or punish various illegal activities occurring in the real estate market. Therefore, sufficient personnel and organization must be secured. In that regard, I think we can refer well to the Financial Supervisory Service model."
Regarding the question, "Is it possible to consider not just a department but an independent institution?" he said, "I think it should be actively considered." Jin added, "Since 80% of household assets in our country consist of real estate, a real estate supervisory agency much larger in scale than the Financial Supervisory Service, which oversees the stock market and financial sector, should be established. I believe that the temporary task force (TF) within the Ministry of Land, Infrastructure and Transport cannot properly respond to market disruption activities."
On recent personnel changes at the Blue House, he said, "It is unavoidable that they have a (disciplinary) nature," and added, "To secure the credibility of government policies, public officials must uphold the spirit and attitude of leading by example." He continued, "There was a consensus to dispose of multiple homes owned by high-ranking officials except for the one they actually reside in, as a measure to secure trust in real estate government policies, but there was some confusion during the implementation process." When asked if he thinks it is not a situation to hold Kim Sang-jo, Chief of the Blue House Policy Office, and Kim Hyun-mi, Minister of Land, Infrastructure and Transport, responsible, he replied, "I think so."
Regarding whether to prepare a 4th supplementary budget, he said, "The exact scale of damage has not yet been confirmed," and added, "We must first confirm the scale of the damage. If the budget is insufficient, a supplementary budget should be prepared." He also said, "Since the regular National Assembly session opens in September, there is still enough time and opportunity."
Meanwhile, Jin criticized independent lawmaker Yoon Sang-hyun’s claim regarding former President Park Geun-hye, saying, "The conditions for a pardon are not met; since the sentence has not been finalized, it is not even subject to review." He added, "Repeatedly bringing this up is for political purposes to stir public opinion," and criticized, "Seeking forgiveness without remorse is shameless behavior in the eyes of the public."
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