Sim Sang-jung: "Instead of a Real Estate Supervisory Body, a 'Housing Agency' Should Be Established"

Sim Sang-jung, leader of the Justice Party, is taking off her mask while attending the Executive Committee meeting held at the National Assembly on the 16th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kang Nahum] On the 13th, Sim Sang-jung, leader of the Justice Party, criticized the discussion on establishing a real estate market supervisory body, saying, "Supervising the market to curb speculation and stabilize the people's housing rights is putting the cart before the horse," and proposed the creation of a 'Housing Agency' focused on 'housing welfare.'

At the executive committee meeting that day, Leader Sim stated, "The current market overheating is not caused by a few illegal or illicit speculators, but by a speculative market structure that forces ordinary citizens to flock to real estate."

She criticized, "The government has institutionally encouraged such speculation," adding, "Instead of fair taxation on multiple home ownership and real estate assets, it has wavered between tax cuts and tax increases, and the institutional privileges granted to housing rental business operators are also problematic."

She continued, "What is needed now goes beyond defensive measures to 'calm the overheated real estate market'; it is about how to realize 'the people's housing welfare' consistently and responsibly with a mid- to long-term perspective," emphasizing, "We must decisively separate the housing welfare responsibility department and establish a Housing Agency to jointly manage market stabilization."

Regarding the government's announcement to double disaster relief funds, Leader Sim said, "It is far from sufficient for the daily recovery of affected residents," and urged, "We must actively discuss the formulation of a 4th supplementary budget (supplementary budget) that considers disaster recovery and climate disaster prevention."