Chairman Lee Joonggeun: "The Government Should Supply 30% Permanent Rental Housing... Homes Should Be for Residential Purposes"

Booyoung Group announced on the 23rd that Lee Joonggeun, Chairman of Booyoung Group and President of the Korea Senior Citizens Association, recently appeared on a public broadcasting talk show, where he emphasized the roles of both corporations and the government in addressing the crisis of population decline and the challenges of a super-aged society.

On the December 21st broadcast of KBS1TV's "Sunday Diagnosis Live," Chairman Lee commented on housing policy, stating, "Permanent rental housing accounts for only 1 to 2 percent of all apartments," and added, "To ensure housing stability, the government should supply permanent rental housing to reach about 30 percent of the total housing stock." He pointed out, "Due to a supply shortage, housing in Korea has become a speculative asset as prices have risen," adding, "Homes should be for residential purposes." He explained that creating a system in which housing prices do not rise would allow people to avoid obsession with ownership and lead stable lives. Previously, in a May interview with The Asia Business Daily, Chairman Lee also argued that the proportion of permanent rental housing should be expanded to 30 percent, and that clearly separating ownership from rental and increasing permanent rental housing could also address welfare issues such as elderly poverty.

Lee Joonggeun, Chairman of Booyoung Group and President of the Korea Senior Citizens Association. Booyoung Group

Regarding the aging population, Chairman Lee proposed gradually raising the official age for seniors from the current 65 to 75. He stated, "By 2050, if there are 20 million seniors, the rest of the population will be burdened with supporting them, resulting in a shortage of the workforce," emphasizing the need to ease the support burden. As an alternative, he suggested introducing a system where the wage peak system would apply from age 65, allowing seniors to continue economic activities in advisory or specialized fields, even if their wages are reduced. He explained that this is a comprehensive solution that maintains the productivity of seniors, addresses pension issues, and does not take away jobs from younger generations.

In the field of senior welfare, he advocated for the introduction of a "home-based end-of-life care system," enabling seniors to pass away at home rather than in care facilities. The intention is to support people in spending their final moments with their families. As a way to secure necessary personnel, he introduced a plan to train nursing staff in Southeast Asian countries such as Cambodia and Laos and bring them to Korea. Booyoung Group is currently establishing a nursing school in Cambodia to help local staff obtain domestic care worker qualifications. According to the National Health Insurance Service's outlook on care worker supply and demand, there is a shortage of 3,762 workers this year, and the shortfall is expected to increase to 116,784 by 2028.

Chairman Lee cited "national security" as the reason behind the company's childbirth encouragement policy, which provides 100 million won per child to employees. He said, "Article 37, Paragraph 2 of the Constitution allows the restriction of citizens' rights for national security, but if the population continues to decline and there are no people in 20 years, the nation itself cannot survive," adding, "Encouraging childbirth is an act of protecting the nation." According to Booyoung Group, the in-house birth rate increased by about 10 percent after the policy was implemented. Last year, Booyoung Group became the first Korean company to provide a childbirth incentive of 100 million won, with a cumulative total of 9.8 billion won distributed so far.

Chairman Lee cited his experience in the rental housing business as the starting point for his philanthropic activities. He said, "In the past, when I built and donated an elementary school in a suburban rental housing complex, it not only facilitated housing sales but also improved students' commuting conditions, allowing me to experience the joy of win-win philanthropy." He added, "I donate with the belief that there is no such thing as eternal ownership," and "I take pride in living together with others." Booyoung Group has donated more than 1.2 trillion won to educational and cultural facilities, disaster relief, and other causes.

Additionally, Chairman Lee once again proposed designating "UN Day" (October 24) as a public holiday in Korea to express gratitude to the countries that participated in the Korean War.