[Moon 4th Anniversary Speech] Moon "No Excuses on Real Estate... Also Judged in By-Elections"

[Image source=Yonhap News]

[Asia Economy Reporters Lee Ji-eun and Park Joon-yi] President Moon Jae-in described the real estate issue as a situation where "there is nothing to say," adding that "a severe judgment was passed on this matter in the by-elections." However, he expressed his intention to maintain the current real estate policy direction without change.

At a press conference held on the 10th to mark the 4th anniversary of his inauguration, President Moon said, "We failed to achieve the goal of stabilizing real estate prices, and a severe judgment was passed on this in the recent by-elections."

When asked by reporters to name the most regrettable issue over the past four years, he pointed to the "real estate issue."

President Moon stated, "The success of real estate policy is summarized by the result of stabilizing real estate prices, and since we did not achieve that, the government is truly in a position where it has nothing to say regarding the real estate sector. Furthermore, with the added corruption scandal involving the LH Corporation, a severe judgment was passed through the recent by-elections."

He also described the recent by-election results as "a judgment that was like being struck with a wooden clapper, awakening us sharply."

Regarding signs of a 'policy stance retreat,' such as the ruling party's push to ease loan regulations, he explained, "Since there was a severe judgment on real estate policy, it is natural that efforts are being made to reconsider the real estate policy."

However, he clearly stated that the existing policy direction would not be changed. President Moon said, "The core of our real estate policy is to prevent speculation, protect genuine buyers, and stabilize the market through expanding housing supply. This policy direction cannot be altered. Adjustments are needed if strengthening real estate speculation regulations causes difficulties or greater burdens for genuine buyers in purchasing homes."