Choi Jae-hyung: "Moon Government's Severe Blame-Shifting... Don't Blame the People for Real Estate Failures"

Former Board of Audit and Inspection Chairman Choi Jae-hyung is attending the party presidential primary candidates meeting held at the People Power Party Central Party Office in Yeouido, Seoul on the 29th, delivering a greeting./Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Geum Bo-ryeong] Choi Jae-hyung, former head of the Board of Audit and Inspection and a presidential candidate from the People Power Party, raised his voice against the government, saying, "Do not blame the people for the failure of real estate policies."

On the 29th, Choi posted on Facebook, "Deputy Prime Minister Hong Nam-ki still does not acknowledge the failure of government policies as the cause of rising real estate prices and instead blames the people," adding, "This government's excuses and blaming others are truly severe." He was targeting the real estate measures announced by Deputy Prime Minister Hong the day before.

Choi continued, "The real estate measures announced by Deputy Prime Minister Hong are yet another proof of how disconnected this government is from public sentiment," criticizing, "They labeled worried citizens who are anxious about not being able to own a home as speculators. They threatened that housing prices might suddenly fall while accompanied by the National Police Agency chief. Why is the police chief involved in real estate market talks? Are they threatening the people?"

He also pointed out that the ruling party's presidential candidates have a 'distorted' view on real estate issues. Choi said, "Gyeonggi Province Governor Lee Jae-myung advocates for the government to seize citizens' property under the guise of a land holding tax," and "Former Democratic Party leader Lee Nak-yeon has brought forth policies similar to the Land Ownership Limit Act, which was ruled unconstitutional by the Constitutional Court long ago, attempting once again to infringe on citizens' property rights through legislation."

He then emphasized, "The government must boldly shift from regulation-centered real estate policies to market-friendly policies," adding, "They need to lift various reconstruction and redevelopment regulations, ease loan restrictions, and reduce excessive taxes that burden homeowners. Policies that go against market principles cannot stop the rise in real estate prices."