President Lee Jaemyung Says "Real Estate Is at the Root of Every Problem in This Country"...Orders Review of Farmland Reform

President Lee Jaemyung Chairs Cabinet Meeting on the 24th
"Abandoned Farmland Should Be Sold Off Under Forced Sale Orders"

President Lee Jaemyung is speaking at a Cabinet meeting held at the Blue House on the 24th. Yonhap News

President Lee Jaemyung on the 24th called for farmland reform, sharply criticizing that "real estate is at the root of every problem in this country."

At the Cabinet meeting held at the Blue House that day, President Lee said, "Farmland management in our country is a total mess," making these remarks.

President Lee pointed out that "(farmland) has turned into a speculative asset," adding, "The principle that those who till the land should own it is clearly stipulated in the Constitution, yet we are committing all kinds of unconstitutional acts through ordinary laws." Under the current law, only those who actually farm are allowed to own farmland, and his comments are understood as criticism of those who hold farmland through loopholes.

President Lee said, "We have to restore everything to normal," and criticized that "people buy land saying they will farm, then secretly plant (crops) just for show and leave it unattended." He went on, "In reality, we should issue sale orders and force them to sell. Because they do not comply with the law, everyone thinks they can just buy farmland and pretend to farm."

President Lee also said, "Even if someone wants to return to farming in the countryside, it is impossible to farm because even neglected fields in remote mountain valleys cost 50,000 won or 100,000 won per pyeong," analyzing that "all of this stems from the abnormally high real estate prices."

He continued, "Simply because it is land, prices have gone up across the board, and they say you cannot find even a small hillside plot in the countryside for 10,000 won per pyeong," explaining, "This is why it is so difficult for people who want to move to rural areas and take up farming or country living to get established."

He also hinted at revising tax, regulatory, and financial systems to normalize farmland. President Lee said, "There is far too much abandoned farmland, the efficient use of our national territory is being undermined, and this also aggravates the problems caused by concentration in the Seoul metropolitan area," adding, "We also need to study ways to minimize the costs of returning to farming and rural life."

He then stressed, "To achieve that, we need to bring land prices down."