Park Young-sun: "Moon Administration's Real Estate Policy, Direction is Right but Too Radical"

"Lee Recognizes 'Seoul Approval Rating' as Key Battleground in This Presidential Election... Must Show Changing Approach to Real Estate"
Not a Direction Change but a 'Speed Adjustment' Needed

[Asia Economy Reporter Oh Ju-yeon] Former Minister of SMEs and Startups Park Young-sun said on the 20th, "The real estate policies pursued by the Moon Jae-in administration had the right direction, but they were implemented too radically, causing side effects and backlash, so speed adjustment is necessary."

Park Young-sun, the Democratic Party of Korea's candidate for Seoul mayor, is giving a greeting at the "Park Young-sun Seoul Mayor Candidate Supporters' Association Opening Ceremony" held on the afternoon of the 28th at Dongduk Building in Gwanhun-dong, Jongno-gu, Seoul. Photo by the National Assembly Press Photographers Group

In an interview on MBC Radio's 'Kim Jong-bae's Focus,' former Minister Park said, "No matter how right the direction of a policy is, it is more reasonable to approach it flexibly by adjusting the speed when it encounters side effects and backlash."

She explained that candidate Lee's recent mentions of postponing the heavy capital gains tax and freezing property tax focus on the 'real estate issue,' which resonates with the Seoul public sentiment.

Former Minister Park said, "I understand that candidate Lee sees the recovery of support rates in Seoul as a crucial battleground in this presidential election," adding, "And this Seoul support rate is interpreted as citizens' sentiment not returning regarding housing prices, that is, the real estate issue."

She continued, "The Democratic Party should clearly show some policy changes regarding the mistakes made on real estate issues and take a more proactive stance. Also, I hope the Democratic Party becomes more sensitive to the pain felt by the people and citizens," she added.

Former Minister Park said, "I strongly agree with that," and interpreted, "What candidate Lee demands does not mean disrupting the direction of the Moon administration's real estate policy, but rather becoming a party that shares the pain of the people and citizens by adjusting the speed."

She evaluated, "In the coordination process with the government, it may not be possible to fully implement 100%, and only 50% may be accepted, but by expressing such will, it is important to show the path that the Lee Jae-myung administration should take."