President Moon: "Failed to Stabilize Real Estate, Will Implement Drastic Supply Measures" (Comprehensive)

The First Ever Online and Offline New Year's Press Conference... On Questions About Pardons for Former Presidents Park Geun-hye and Lee Myung-bak, "Now Is Not the Time to Talk"

[Asia Economy Reporter Ryu Jeong-min] President Moon Jae-in said on the 18th, "We are planning to prepare special measures for real estate supply," adding, "The Minister of Land, Infrastructure and Transport is scheduled to announce them before the Lunar New Year."

President Moon explained, "We have not succeeded in stabilizing real estate," and said, "As the number of households rapidly increased, the demand for the supply volume we had predicted was exceeded, which ultimately contributed to the shortage of supply and the rise in real estate prices."

At the ‘2021 New Year Press Conference’ held at the Blue House Chuncheon Hall that morning, President Moon stated, "We will increase real estate supply far beyond the market’s expectations by increasing public sector participation in the metropolitan area, especially within Seoul, strengthening incentives, shortening procedures, and through public redevelopment, station area development, and bold new housing site development."

[Image source=Yonhap News]

Regarding the issue of pardoning former Presidents Lee Myung-bak and Park Geun-hye, President Moon said, "Now is not the time to talk about pardons," and firmly stated, "I believe that the president and politicians do not have the right to talk about pardons immediately after the Supreme Court’s verdict."

However, he added, "Both of them are elderly and reportedly in poor health, which is very concerning," and left a lingering note by saying, "The opinion that pardons could achieve national unity is worth listening to. When the appropriate time comes, there will be a time to consider it more deeply."

President Moon maintained his existing confidence and firmness regarding the COVID-19 quarantine measures. He said, "Vaccines are being introduced quickly enough, and sufficient quantities have been secured," and added, "If we can keep the number of new confirmed cases below 400 during this week, we expect to be able to slightly ease the quarantine stage."

Regarding vaccine side effects, President Moon said, "Because of that issue, the quarantine authorities were very cautious in signing contracts," and urged, "Since the Korean government takes full responsibility for side effects, I hope people will get vaccinated with confidence." He also conveyed that if the situation arises where he must lead by example due to high anxiety about vaccines, he would not hesitate to be vaccinated first.

On the 18th, citizens are watching the live broadcast of President Moon Jae-in's New Year's press conference in the waiting room of Seoul Station. Photo by Moon Honam munonam@

The prosecution issue, which was the biggest topic at last year’s New Year press conference, remained a subject of interest this year as well. In particular, President Moon said, "There are various evaluations of Prosecutor General Yoon Seok-youl, but to sum up my evaluation in one sentence, he is the Prosecutor General of the Moon Jae-in administration," and added, "I do not think Prosecutor General Yoon is performing his role with politics in mind or planning to engage in politics."

Regarding the importance of the Korea-US and Korea-China alliances, President Moon said, "For us, both the Korea-US relationship and the Korea-China relationship are important. The Korea-US relationship is a special alliance in diplomacy and security." He also emphasized the importance of Korea-China relations and pledged, "Once the COVID-19 situation stabilizes and conditions are met this year, we will strive to realize an early visit by Chinese President Xi Jinping."

Meanwhile, due to COVID-19 issues, the press conference was held in a hybrid format for the first time in history, both online and offline. Twenty domestic and foreign reporters attended the on-site press conference, and 100 participated via video connection from the Chuncheon Hall, the National Assembly, their offices, and homes.