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People Power Party Urges Withdrawal of "Anti-People Real Estate Tyranny" Following Government Household Loan Regulation Announcement

Presidential Office Denies Responsibility for Real Estate Measures
Ahn Cheolsoo Criticizes: "Presidential Office Only Observes and Comments as a Bystander"

As the government announced new household loan regulations that limit the maximum amount of mortgage loans in the Seoul metropolitan area and regulated regions to 600 million won, the People Power Party has strongly criticized the measure.

People Power Party Urges Withdrawal of "Anti-People Real Estate Tyranny" Following Government Household Loan Regulation Announcement Yonhap News

On June 27, the People Power Party issued a strong statement in response to the government's announcement of the "Strengthened Household Debt Management Plan," demanding, "Immediately withdraw this anti-people real estate tyranny."


Floor leader Song Eonseok stated on Facebook that the government's real estate policy, which focuses on curbing excessive loans by setting the maximum mortgage loan limit at 600 million won in the metropolitan and regulated areas, "crushes the dreams of ordinary people who genuinely need a home."


Song pointed out, "The average apartment sale price in Seoul has already exceeded 1.34 billion won," and added, "If only 600 million won can be covered by loans, it means the rest must be raised by the buyer themselves."


He continued, "This is no different from telling ordinary middle-class and working-class citizens not to even dream of owning a home in Seoul from the start," and added, "It is a 'cash-rich exclusive pass' that only allows those with large cash reserves to purchase apartments in popular areas such as Gangnam, Bundang, and Gwacheon."


Song also criticized the presidential office for stating that the measure was "a plan from the Financial Services Commission, not from the presidential office," saying, "If that is true, does that mean there is no president in this country?" and called it "the height of irresponsibility."


Representative Ahn Cheolsoo also wrote on Facebook, "Is there a separate Lee Jaemyung presidential office and Yoon Sukyeol Financial Services Commission?" and added, "This is the era of the Lee Jaemyung administration. How long will you just watch and comment on state affairs as a bystander?"


Meanwhile, spokesperson Park Sunghoon stated in a commentary, "In an attempt to catch a handful of speculators, the government has thrown a grenade into places where genuine homebuyers such as newlyweds and young people gather," and criticized, "Do not cowardly hide behind the excuse that 'this is not our (the presidential office's) plan.'"


Park also remarked, "Isn't this the Lee Jaemyung administration now? Whose administration is it?" and pointed out, "You said you would not repeat the failed real estate policies of the Moon Jaein administration, but is your approach to simply pass the responsibility on to the ministries?"


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