"Do Not Condone Catastrophic Real Estate Speculation"... President Lee's SNS Heats Up

President Lee Jae-myung has reiterated his stance on ending the temporary suspension of the capital gains tax surcharge for owners of multiple homes through his social media account.

On February 1, President Lee cited an article titled "Chaotic Housing Market: 10 Side Effects of Regulations on Multiple Homeowners" on X (formerly Twitter), lamenting, "How can anyone side with speculation after witnessing a country fall due to real estate speculation?"

Screenshot of President Lee Jae-myung's SNS

President Lee noted that the article used the term "bolt from the blue" to describe the tax burden on multiple homeowners. He advised, "Instead of trying to unfairly outmaneuver the government by talking about a 'bolt from the blue,' I hope you make good use of the opportunity our society has provided to reduce the capital gains tax surcharge for multiple homeowners. There are still 100 days left."

Previously, on January 26, President Lee also made clear through X that he has "no intention whatsoever of extending the grace period" for the capital gains tax surcharge suspension for multiple homeowners, which is set to expire on May 9, reaffirming his commitment to ending the suspension.

The previous morning, President Lee emphasized, "Does it seem impossible to normalize the 'catastrophic real estate market'? All it takes is trusting the people and accepting criticism without calculating votes," adding, "This is much easier and far more important than achieving Kospi 5000 or restoring valleys."

Addressing the article he cited on X, President Lee stated, "Truthful and accurate reporting is both the mission and duty of the media," and urged, "Please, I sincerely ask that you refrain from condoning catastrophic speculation or engaging in baseless criticism of the government."