Song Unseok: "President Lee Threatening Real Estate Market via SNS... Learned from Trump?"

Song Unseok, Floor Leader of the People Power Party, commented on February 2 regarding President Lee Jaemyung's expression of determination to stabilize housing prices through social networking services (SNS) ahead of the end of the temporary suspension of heavy capital gains taxes for owners of multiple homes. He stated, "Actively addressing sensitive real estate issues through SNS is not policy discussion, but rather a threat directed at the market."

Song Unseok, Floor Leader of the People Power Party, is attending the party strategy meeting held at the National Assembly on January 30, 2026. Photo by Kim Hyunmin

At the Supreme Council meeting held at the National Assembly that morning, Floor Leader Song said, "The market is not tamed by orders, but stabilized through predictability and trust. Continuing to issue threats over an already scheduled event only stirs unnecessary fear in the market," making his stance clear.

Regarding President Lee's multiple real estate-related posts on SNS the previous day, Floor Leader Song remarked, "I saw a ruling party leader strongly criticize U.S. President Donald Trump for pressuring a tariff hike. They say bad habits are learned early, and I wonder if posting a total of seven times a day on SNS, urging people to sell their homes by May 9, and engaging in this kind of intimidation politics, was learned from President Trump, who unilaterally announced tariff hikes via SNS."

Song continued, "He is now spreading 'threat economics,' repeating unfounded claims like 'there is no market that can beat the government,' following his so-called 'hotel economics.' This only increases public anxiety and distrust. The very act of the president directly pressuring the market through SNS is problematic. The market should be managed for credibility through laws, institutions, and a consistent roadmap, not through short messages that cannot explain the context and conditions of policy."

Song also pointed out that key figures in the current administration own high-priced homes in the Gangnam and Hangang Belt areas, calling it a case of 'double standards' and stating, "Real estate is the central link between finance and the real economy. If excessive shocks are delivered here, it can lead to financial instability and a crisis in the real economy."

He emphasized, "A soft-landing strategy is needed to stabilize real estate prices while adhering to market principles, including appropriate supply measures. The People Power Party once again strongly urges for the revitalization of redevelopment and reconstruction, deregulation to expand private sector supply, and the easing of excessive loan restrictions that prevent genuine first-time homebuyers from purchasing their own homes."