Lee Jae-myung "Real Estate Taxes Should Be Left Untouched as Much as Possible"

"No Need to Restrict Actual Residence for One Household, One House"

Lee Jae-myung, leader of the Democratic Party of Korea, argued that "real estate taxes cause problems every time they are touched, so they should be avoided as much as possible."

On the 24th, Lee appeared on the economic YouTube channel 'Sampro TV' and said regarding multi-homeowners, "They should just pay their taxes diligently."

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 24th. 2025.2.24 Photo by Kim Hyun-min

He continued, "There is no need to restrict the actual residence of one household with one house who says, 'I will earn money and live in an expensive house,'" adding, "If they buy it with their own money, why not just collect more taxes?" Earlier, at last year's party convention, Lee also mentioned, "There is no need to unnecessarily provoke tax resistance from people who own one house."

Regarding the land profit dividend (land holding tax) pledge made during the last presidential election, he said, "Its acceptability is too low," and "(Even during the election) it lost votes and was not very helpful."

On the recent contentious issue of inheritance tax law revision, he reaffirmed the principle of increasing basic and blanket deductions but clearly opposed the People Power Party's proposal to lower the top tax rate. Lee referred to the business succession deduction, which exempts up to 60 billion won of inherited property when an owner who has managed a small or medium-sized enterprise for more than 10 years passes the company on, and pointed out, "The ruling party wants to raise this to 100 billion won, but that is too abrupt."

He also emphasized that the stock market would normalize if the Democratic Party came to power. He said, "(I think the current administration provoked North Korea to justify martial law, but if the Democratic Party takes power, the security risks on the Korean Peninsula will decrease, and just by clearly stating how to (resolve) stock price manipulation, the market will normalize a lot," adding, "I'm not joking, but if the Democratic Party comes to power, the KOSPI index will exceed 3,000 without doing anything at all."