President Moon: "Caution Needed in Easing Real Estate Regulations... Rejecting Hatred and Discrimination" (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in pointed out signs of instability in the real estate market and emphasized the need for caution in easing regulations. This is read as a message of caution to the new government, which, unlike the Moon administration, has proposed 'easing real estate regulations.'

On the 11th, President Moon held a senior secretaries meeting at the Blue House and stated, "At this time, ensuring housing stability along with price control is especially important for stabilizing people’s livelihoods."

President Moon said, "While the government is making every effort to control prices, on the other hand, the real estate market, which had been on a downward stabilization trend, is showing signs of instability, which is concerning," and added, "Overall deregulation that could affect the real estate market, which has been difficult to stabilize, must be approached with great caution."

The 'overall deregulation' mentioned by President Moon appears to be in reference to President-elect Yoon Seok-youl’s key pledge to 'ease real estate loan regulations.' President Moon’s remark that "In a situation where interest rates are rising worldwide, managing household debt and maintaining financial soundness are even more important" supports this interpretation.

President Moon also called for the role of mature politics, saying, "South Korea is already an advanced country and a leading nation ranked within the top 10 globally in various fields." This seems related to recent controversies in the political sphere regarding hatred toward people with disabilities and women.

President Moon said, "I hope we now move toward a mature society where we look around and move forward together," and added, "The role of politics is especially significant. Hatred and discrimination must be rejected outright."

He continued, emphasizing "a society that cares and embraces rather than hates and discriminates, a society that respects differences and acknowledges diversity rather than conflict and confrontation," and added, "I believe that is the true path to integration and the way to become a dignified Republic of Korea."

President Moon said, "History sometimes stagnates and regresses, but ultimately it develops and progresses," and added, "I hope we take pride in our history as a whole. That pride and positivity are the very strength that will enable us to make a greater leap forward."

With about a month left in his term, President Moon said, "Every beginning has an end," and expressed, "I deeply thank the people who have given me abundant love so far, and I will repay them by doing my best until the end to ensure there is no gap in security and governance."

He also said, "The successful conclusion of our government will lead to the successful launch of the next government," and added, "I hope the people will continue to support us until the very end."

President Moon said, "Above all, the fortunate point is that we have overcome the Omicron crisis and can finally move into the phase of restoring daily life," and added, "Even now, amid the global COVID-19 crisis, based on the pride of having become a model country for quarantine and a leading country in economic recovery, we will do our best until the end to lead the world in restoring daily life."

He also stated that the experience and lessons learned during the COVID-19 response will be well transferred to the next government to strengthen the nation’s capacity to respond to infectious diseases.

President Moon also mentioned the economic ripple effects caused by China’s regional COVID-19 lockdowns. He said, "(China) is our largest trading partner, and due to closely connected supply chains, the impact could be significant across domestic industries," and added, "We must inspect supply chains for key items and establish a proactive preparedness system for production and logistics disruptions in lockdown areas."