Song Young-gil: "Oh Se-hoon Just Paints Pictures Until His Term Ends" [Local Election Relay Interview]

Reappointment Goal for Real Estate Policy
'Nugugnajip' Possible if House Prices Drop by 10%

Song Young-gil, the Democratic Party of Korea's candidate for Seoul mayor, is being interviewed at the election campaign office set up in Jung-gu, Seoul, on the 10th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporters Naju-seok and Oh Ju-yeon] Song Young-gil, the Democratic Party of Korea’s candidate for Seoul mayor, emphasized that he is the "only candidate who can solve Seoul’s real estate problems," while simultaneously checking the newly launched Yoon Suk-yeol administration and the People Power Party candidate, Seoul Mayor Oh Se-hoon.

On the 11th, during an interview with Asia Economy held at his campaign office in Jung-gu, Seoul, Song said, "I definitely have well-prepared content for the citizens of Seoul."

Regarding the real estate issue, which Seoul citizens consider the most urgent, he questioned, "When Mayor Oh Se-hoon ran in last year’s by-election, he said he would control housing prices within a week if elected. Did that really happen?" He then proposed a solution, saying, "The real estate problem should be addressed by enabling people to secure their own homes." He added, "It takes at least eight years to show results," emphasizing that he is running for mayor with the goal of re-election.

Below is a Q&A with candidate Song.

Song Young-gil, the Democratic Party of Korea's candidate for Seoul mayor, is being interviewed at the election campaign office set up in Jung-gu, Seoul, on the 10th. Photo by Kang Jin-hyung aymsdream@

- You seem to have a special determination for the June 1 local elections.

I will approach this with absolute confidence in winning. I will not be discouraged or anxious due to the presidential election loss; instead, I will proceed with composure and trust in the citizens. I have well-prepared content for all Seoul citizens. Especially regarding real estate, no one has a proper solution. Mayor Oh Se-hoon said last year that if elected, he would control housing prices within a week. So, did he? What did he control? Now that the election is approaching again, he is making a fuss about speeding up redevelopment and reconstruction, but the existing approach cannot solve the real estate problem. They say they will leave it to the private sector, but those who attacked Daejang-dong are now entrusting it to the private sector. What about those profits? Supplying more does not solve the problem. People without money need money to buy a house. The reason the rate of homeownership in Seoul is low is because houses are too expensive to buy. Neither the Democratic Party, the People Power Party, nor Mayor Oh have properly proposed solutions for this. I am confident that only Song Young-gil has them.

- Do you have a plan to stabilize real estate prices?

The logic behind all the housing price stabilization measures so far has been about maintaining the status quo. They are not policies to provide homes to the homeless but to stabilize housing prices. However, if you already own a home, rising prices are not a problem. The problem arises because people do not have their own homes and prices rise. Through my 'Anyone Can Have a Home' pledge, I have promised that anyone can own a home with just 10% of the housing price. After living there for 10 years, if they want to purchase the home, they will have the right to buy it at the initial sale price. Why do people stretch their finances to buy homes? Because prices have skyrocketed, and if they wait, they won’t be able to buy later. But with 'Anyone Can Have a Home,' they can buy at the initial sale price, so why stretch their finances? If prices fall, they don’t have to buy. This is an option, so it’s a matter of choice. Where else is there such a solution?

- The 'Yongsan era' has begun. Seoul’s traffic problems are emerging.

I want to tell Seoul citizens, "If you think the Yoon Suk-yeol administration’s presidential office relocation to Yongsan will help Seoul’s development, vote for Mayor Oh Se-hoon. If you think revisions and improvements are necessary, vote for Song Young-gil." This Seoul mayoral election is a vote to decide this.

- Some see the Seoul mayor position as a stepping stone.

It takes at least eight years to show real estate achievements.

- Are you aiming for re-election?

Yes. Even just supplying housing takes at least four years. To visibly demonstrate Song Young-gil’s 'Anyone Can Have a Home' project, eight years are needed. But Mayor Oh Se-hoon cannot do that. He will keep drawing pictures and making flashy speeches about Seoul’s real estate issues, but that’s all. Isn’t he being pushed by his party to run for the next presidential election?

- What do you think about the by-election for the National Assembly seat in Gyeyang-eul, Incheon, where Senior Advisor Lee Jae-myung is running?

There are many people who love me very much, so I believe Senior Advisor Lee Jae-myung will do well.

- Are you confident in his election?

I think so.

- When do you think the gap in support rates for the Seoul mayoral race will narrow significantly?

The TV debate is the most important. As we discuss issues from Yongsan to real estate solutions, comparisons will gradually be made. Especially regarding the traffic problems caused by the relocation of the presidential office to Yongsan, do we need a mayor who cannot raise these issues, or a mayor who can represent the citizens’ interests? There are also environmental issues at the Yongsan base, but using it as an office without raising any problems is incomprehensible. I trust Seoul citizens will make the judgment.