[Lee·Yoon Pledge Comparative Analysis] Lee: "Strengthen Taxes to Block Speculative Profits" VS Yoon: "Loosen Regulations to Boost Private Supply"

Comparison of Real Estate Pledges 100 Days Before the Presidential Election
2.5 Million Housing Units Supply, Unified Voice on Price Stabilization
Contrasting Policy Directions on Taxation and Supply Solutions

Lee Jae-myung, the Democratic Party presidential candidate, and Yoon Seok-youl, the People Power Party presidential candidate, are attending an event held on the 22nd at the Grand Walkerhill Seoul in Gwangjin-gu, Seoul, and exchanging greetings. Photo by National Assembly Press Photographers Group

[Asia Economy Reporter Naju-seok] Lee Jae-myung and Yoon Seok-yeol, the presidential candidates from the ruling and opposition parties, have presented completely opposite measures regarding the major issue of next year’s presidential election: ‘real estate and taxes.’ Depending on who becomes president, the method of real estate supply and the intensity of tax and regulatory measures will point in entirely different directions.

On the 29th, 100 days before the presidential election, this publication analyzed the real estate and tax pledges of Lee Jae-myung, the Democratic Party presidential candidate, and Yoon Seok-yeol, the People Power Party presidential candidate. While the two candidates agreed on the big picture, such as supplying 2.5 million housing units and stabilizing housing prices, their policy directions to realize these goals are based on completely different philosophies.

Candidate Lee, who emphasizes the ‘recovery of unearned income,’ proposes a policy direction that blocks profits from real estate speculation based on the ‘public concept of land.’ The core idea is for the government to intervene more strongly to stabilize the housing market. He also plans to block real estate speculation through strengthened taxes and regulations. On the other hand, Candidate Yoon focuses on minimal government intervention and supply led by the private sector. Regarding taxation, Yoon has set the policy goal of easing real estate holding taxes and pledged a comprehensive reform of the comprehensive real estate tax.

Starting with a comparison of real estate and tax pledges, this publication plans to examine the differences in key pledges presented by the two candidates, including job creation, resolution of gender conflicts, restructuring of power systems, and corporate and labor relations, analyzing their strengths, weaknesses, and potential side effects.