Han Byungdo: "We Will Uproot Nation-Destroying Speculation with a Real-Estate Version of the Financial Supervisory Service"

Bill to Establish Real Estate Supervisory Service Introduced on the 10th

Han Byungdo, floor leader of the Democratic Party of Korea, is speaking at a floor strategy meeting held at the National Assembly on the 10th. Photo by Kim Hyunmin

On the 10th, Han Byungdo, floor leader of the Democratic Party of Korea, stated, "We will launch a real-estate version of the Financial Supervisory Service to conduct constant monitoring and precise crackdowns, so that illegal speculative forces cannot gain a foothold in our market."

At a parliamentary strategy meeting held at the National Assembly that morning, Floor Leader Han said, "The bill to establish a Real Estate Supervisory Service will be introduced today," adding, "We must completely eliminate the blind spots in oversight that had been fragmented among ministries and had become a playground for speculative forces."

He continued, "We will eradicate nation-destroying real estate speculation without fail," and added, "A home is a place to live, not a tool for speculation. We must now put an end to this era of foul play in which market-price manipulation and jeonse fraud trample on the dreams of ordinary people."

On the same day, Policy Committee Chairperson Han Jeongae also stressed, "The will of the party, the government, and the presidential office to normalize the real estate market is firm." She said, "Just as there is a need to bring down the hammer on illegal activities in the capital market, unfair and illegal practices in the real estate market must likewise be cut off," and added, "The party and the government have decided to swiftly establish a Real Estate Supervisory Service to lay the foundation for a real estate transaction index."