In Response to Opposition's Criticism of "Government Policy as Real Estate Rationing," President Lee Calls It "Outdated Pro-North Korea Slander"

President Lee Sends Daily Real Estate Messages via Social Media
Directly Responds to Opposition's Criticism of "President Threatening Homeowners"
Lee: "Stop Defending Ruinous Real Estate Speculation"

President Lee Jae-myung is asking a question to Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-chul at the National Startup Era Strategy Meeting "K-Startup Creates the Future" held at the Blue House on the 30th. Photo by Yonhap News

On February 2, President Lee Jae-myung stated, "Isn't it time to stop defending ruinous real estate speculation and engaging in outdated pro-North Korea accusations?" President Lee directly responded via social media after the People Power Party criticized the government's real estate supply measures. After expressing his determination to normalize the real estate market, President Lee also personally shared news articles reporting the emergence of urgent property sales.

President Lee made these remarks through social media on the same day. Along with his message, he shared a news article covering a statement by Choi Boyoon, chief spokesperson of the People Power Party. Spokesperson Choi claimed that "President Lee has defined the cause of the overheated housing market as illegal activities and even issued threatening remarks targeting homeowners." President Lee criticized this as "defending ruinous real estate speculation." He also countered Choi's comment that the government's real estate measures are "no different from telling people to be satisfied with rationed housing" by calling it an "outdated pro-North Korea accusation."

President Lee also shared an article reporting that a property near an apartment complex in Gaepo-dong, Gangnam-gu, Seoul, was listed at a price more than 400 million won lower than usual. The article noted that urgent sales have appeared following President Lee's announcement to end the temporary suspension of the capital gains tax surcharge on owners of multiple homes.

Over the past weekend, President Lee issued four separate real estate messages targeting owners of multiple homes, reaffirming his commitment to "stabilizing the housing market." On the morning of January 31, President Lee stated, "Normalizing the real estate market is much easier and more important than achieving KOSPI 5000," adding, "Take the opportunity while you can... You will soon realize this was your last chance." On the same day, he shared an article about the development debate over Jongmyo and Taereung, asking, "Why is high-rise development allowed in front of Jongmyo, but housing supply is not allowed next to Taereung?"

Later, around midnight on January 31, President Lee directly countered the People Power Party's criticism of his "reckless remarks," stating, "Just like river maintenance or achieving KOSPI 5000... I will do whatever it takes to stabilize housing prices." On February 1, targeting the "bolt from the blue" narrative, he asked, "After witnessing the country being ruined by real estate speculation, why are you still siding with speculators?" He pointed out that the suspension has "dragged on for nearly four years." President Lee further emphasized, "Policies can be changed if necessary," reaffirming that the suspension will end on "May 9, 2026," and noting, "There are still 100 days left."

The President's "hardline signals" come amid a persistent rise in housing prices, despite a series of real estate measures. Until last year, the Blue House generally avoided mentioning real estate taxation. However, with various speculations circulating ahead of the end of the capital gains tax surcharge suspension, it appears the administration decided it was necessary to proactively dampen market expectations. In fact, on January 23, President Lee drew a clear line, stating, "We are not considering any extension of the temporary suspension of the capital gains tax surcharge on multiple home owners." On January 25, he issued further warnings, saying, "If you were expecting another extension, you were mistaken," and "Trying to hold out? That's an obvious detour."

A Blue House official explained, "This should be understood as an effort to emphasize the government's unwavering policy stance," adding, "By making it clear to the market that the suspension for owners of multiple homes will definitively end, the government is also signaling that it has various policy tools at its disposal, including tax reform."

Kim Yongbeom, Chief Presidential Policy Secretary, has also begun to support President Lee via social media. On February 1, Kim stated on social media, "The paradigm has already shifted," declaring that the trend shown in the Korea Gallup survey-where stocks have become the most preferred investment-represents a structural change. He explained, "Too many factors have aligned simultaneously for this to be dismissed as a temporary fad," and noted, "Prices have followed where sentiment has shifted, and the focus of public discourse has moved from real estate to the capital market." He added, "The question now is not whether the change has begun, but how to solidify the new framework that has already been established."

This content was produced with the assistance of AI translation services.