Prime Minister Kim: "Tax Measures in Real Estate Policy Should Be Placed Low on the List... But Not Ruled Out"

"Not Being Cautious Just Because an Election Is Approaching"
"Far More Focus on Turning Around the Economic Growth Rate"
On Proposal for a 'Jobs-related Ministers' Meeting: "It Is Meaningful"

On the 10th, Prime Minister Kim Minseok stated regarding real estate policy, "Even if strengthening the tax system is not the very last resort to achieve policy goals, I tend to place it as far down the list of options as possible."

That afternoon, during a government-questioning session at the National Assembly, when Cha Kyoukeun, a lawmaker of the Cho Kuk Innovation Party, argued that "the principles and direction for normalizing property holding taxes and so on must be made clear," Prime Minister Kim replied, "It is not that we are being cautious about tax issues because an election is approaching," and made the above comments.

He added, however, "In real estate policy, we are not, in principle, excluding any policy tools, whether they involve supply, demand suppression, or the tax system."

Prime Minister Kim Minseok is answering a question from Yoon Youngseok of the People Power Party during the government questioning session on economic affairs held in the plenary chamber of the National Assembly on the 10th. Photo by Kim Hyunmin

When People Power Party lawmaker Yun Youngseok asked, "What is the national debt management plan?" Prime Minister Kim answered, "What we should pay far more attention to than (national) debt itself is turning the growth rate from negative to positive," adding, "That is where we are placing our emphasis."

Prime Minister Kim said, "There is no one who thinks that an increase in national debt is no big deal," but added, "When looking at the economy, shouldn't we consider not only debt but also various factors including the growth rate together?"

He went on to say, "Fortunately, at this point, our debt is at a manageable level compared with other countries and has not reached a relatively excessive level," and added, "Pursuing the recovery of the growth rate while managing the debt issue together is the appropriate policy at this time."

When Choi Kisang, a lawmaker of the Democratic Party of Korea, proposed establishing a new 'Jobs-related Ministers' Meeting,' Prime Minister Kim responded, "It seems meaningful. We will try holding a ministers' meeting that focuses solely on employment issues."