"Expand Tax Support to Resolve Unsold Housing" Housing Industry Urges Democratic Party

The Korea Housing Builders Association signed a policy agreement with the Democratic Party on the 15th at the Housing Construction Hall in Yeouido, Seoul. The event was attended by Lee Hanju, Head of Policy at the Lee Jaemyung Election Committee for the 21st Presidential Election of the Democratic Party, Moon Jinseok, Secretary of the National Assembly's Land, Infrastructure and Transport Committee, and Lee Geontae, a member of the National Assembly. Jung Wonjoo, President of the Korea Housing Builders Association, along with the heads of city and provincial chapters, discussed issues concerning the overall industry.

The association stated that both parties agreed to cooperate for the development of the housing industry and to pursue balanced national development. They also agreed to reform regulations that hinder housing supply. During the meeting, industry representatives conveyed to the Democratic Party that the most urgent issue for revitalizing the local economy is restoring housing demand. Specifically, they pointed out the need to expand tax support to resolve unsold housing, as well as to ease loan regulations and lower interest rates.

They also highlighted the situation of small and medium-sized housing businesses, which play a pivotal role in providing affordable housing as a means of upward mobility, and proposed easing the regulation on households owning two homes. Lee Hanju expressed his intention to incorporate the association's proposals into policy. Jung Wonjoo emphasized that the recovery of the housing market must come first for the national economy to recover.

The Democratic Party Election Committee and the Korea Housing Builders Association held a policy agreement ceremony on the 15th at the Housing Construction Hall in Yeouido. Photo by Korea Housing Builders Association