Blue House: "Temporary Suspension of Heavy Capital Gains Tax for Multiple Homeowners Will Definitely End on May 9"

Blue House Spokesperson Kang Yujeong Briefs on May 2
On Opposition's Call for Senior Officials to Sell Homes
"No Particular Position to Share"

Kang Yujeong, spokesperson, is briefing on personnel related to the Second Vice Minister of the Ministry of Strategy and Finance, the Administrator of the Space Agency, the Chairman of the National Water Management Committee, and the Chairman of the Asia Culture Center City Development Committee at the Cheong Wa Dae Press Hall on the 2nd. Photo by Yonhap News

The Blue House has emphasized that the "temporary suspension of the heavy capital gains tax for owners of multiple homes," which is set to expire on May 9, will indeed come to an end as scheduled.

Blue House spokesperson Kang Yujeong stated during a briefing at the Blue House Press Hall that afternoon, "The end of this policy is a kind of social commitment and is related to policy consistency." Kang further explained, "As the President has been emphasizing through social media, the Blue House is stressing that the policy will end on May 9."

Kim Yongbeom, the policy chief at the Blue House, had mentioned during a press conference on the 28th of last month, "We are also considering ways to end the policy not on May 9, but a month or two later." He also suggested that for areas newly designated as regulated zones, the end date could be postponed further. As speculation grew that the suspension of the heavy capital gains tax might be extended beyond May 9, the Blue House has now made it clear that the policy will end as originally planned.

When asked about the possibility of raising the property holding tax, spokesperson Kang replied, "I recall that President Lee Jaemyung referred to it as a last resort." Kang added, "We are implementing various policies regarding real estate and will do our utmost to achieve effective results in this area," and clarified, "Reforming the holding tax will only be considered if it is deemed that all other measures are impossible."

Meanwhile, regarding recent calls from some in the opposition, including Lee Junseok, leader of the Reform Party, urging senior officials in the Blue House and the Democratic Party to sell their homes, spokesperson Kang stated, "There is no particular position to share on that matter."