Democratic Party 'Su·Yong·Seong' Lawmakers in a State of Anxiety

[Asia Economy reporters Park Cheol-eung, Kang Nahum, Won Dara, Jeon Jin-young] As the government’s announcement of additional real estate measures approaches, the so-called Su-Yong-Seong (Suwon, Yongin, Seongnam) area Democratic Party of Korea (DPK) lawmakers are becoming increasingly anxious. Although the government stated it would not target specific regions, if the ultimate goal is to block the 'balloon effect,' these areas will inevitably be directly affected.

On the 18th, a DPK lawmaker from the Su-Yong-Seong area said, "The government views the intensity and speed of the recent spread of rising housing prices as unusual and believes action is necessary. From what I understand, the Democratic Party has conveyed the opinion that a more cautious approach would be preferable."

He continued, "I have heard that the balloon effect is actually appearing in some newly developed complexes and certain redevelopment areas. Since outsiders seem to make up a large proportion, if regulations are to be imposed, we have conveyed to the government the opinion that speculative forces should be firmly cracked down on."

On the 16th, a meeting between the party, government, and the Blue House was held, where DPK leader Lee Hae-chan reportedly expressed concerns about the additional measures. Another DPK lawmaker from the region said, "If regulations must be imposed, we expressed the opinion that the intensity should be moderated."

Another DPK lawmaker said, "Along with the government’s measures, the official real estate price announcement will be made next month, so it inevitably becomes an important election issue. Lawmakers from areas with already high-priced homes, such as Bundang, are naturally more worried. Recently, prices have risen so rapidly that the 'balloon effect' might end quickly, and there is also a view questioning whether imposing regulations is appropriate."

He added, "We conveyed the party’s opinions during consultations, and the government will consider them when drafting the measures, but we have to wait and see the outcome."

Another DPK lawmaker said, "Government policies to curb excessive housing prices are obviously necessary. However, judgments about the speed and intensity can only be made after the government’s specific plan is announced."

On the same day, DPK floor leader Lee In-young, in a speech to the National Assembly negotiation group, said, "We will not ignore the critical voices from the public directed at our Democratic Party, from prosecutorial reform and housing price stabilization to the recent controversy surrounding Professor Im Mi-ri," but he did not make any specific remarks related to real estate policies. However, regarding youth policies, he said, "We announced a plan to supply 100,000 homes for youth and newlyweds as part of our general election pledges."

This content was produced with the assistance of AI translation services.