Opposition: Lee Jae-myung's View of 'Homes as Public Goods' Is Worrisome... A Pledge for an Era of State Control

Lee Jae-myung "Houses Are Public Goods, Land Belongs to Everyone" Statement... People Power Party's "Communism" Backlash

Lee Jae-myung, the Democratic Party of Korea's presidential candidate. [Photo by Yonhap News]

[Asia Economy Reporter Park Hyun-joo] The Democratic Party presidential candidate Lee Jae-myung declared his determination to eradicate unearned income from real estate, stating that "houses are public goods." In response, the People Power Party criticized this as "communist-style control."

Yang Jun-woo, spokesperson for the People Power Party, issued a statement on the 7th, saying, "This is a pledge for an era of state control," and sharply criticized, "Candidate Lee's worldview is worrisome."

Spokesperson Yang said, "The current real estate hell was caused by the Moon Jae-in administration's state-led policies. The disaster happened because the state believed it could control the market and manage both supply and demand," adding, "The state-led policies have already failed, and claiming that increasing the intensity of state control can solve this is absurd."

He added, "Since the juice has already been spilled, the candidate who intends to cover the entire house with juice should not become president. It is time to clean up now." He continued, "The next government must draw out private sector vitality and maintain citizens' housing stability amid the approaching chill of austerity. This is only possible by promoting free economic activities of the private sector and having the government support them."

Heo Eun-ah, chief spokesperson for the People Power Party, also stated in a commentary on the same day, "This is a statement that has not moved a step forward from the failed and distorted perception of the Moon Jae-in administration that caused the real estate price surge," and condemned it as "a dangerous disregard for the market, following the restaurant quota system that implied communist-style control and now refusing to recognize private property."

Meanwhile, earlier on the 6th, candidate Lee visited the youth shared housing 'Jangan Saenghwal' in Dongdaemun-gu, Seoul, and said, "Especially land belongs to all citizens. We need to firmly establish that idea," adding, "Public spaces need to think diversely. In a liberal democratic country, there is a mindset questioning why the government should intervene whether I own one house or 100 houses, but we need to change that thinking."

He continued, "Shared housing is a way to use land efficiently in a limited space," and explained, "When I say this, people call me a communist, but I am not saying to make all housing public; I am saying to provide even 10% of high-quality, affordable housing where people can live for life. Currently, it is less than 5%."

Regarding the supply of public housing, candidate Lee said, "From the perspective of practical equity, we are considering prioritizing a portion for the most vulnerable group in our society, the youth."