[Going to the Battlefield] Scholar Turned Fighter vs David Facing Goliath... Clash in Gangnam Byeongseo

Yoo Kyung-jun, United Future Party Candidate vs Kim Han-gyu, Democratic Party Candidate
United Future Party Stronghold Gangnam-byeong... Defender vs Challenger

Yoo Kyung-jun, the United Future Party candidate, campaigning for the election.

[Asia Economy Reporter Lee Ji-eun] Gangnam-byeong, considered the core of the Gangnam belt, is a neighborhood where wealthy people from Samsung, Daechi, and Dogok live, and it is one of the traditional strongholds of the United Future Party. On the other hand, from the perspective of the Democratic Party of Korea, it is barren land where they have never won even once. Will David defeat Goliath and cause an upset, or will Gangnam voters, disappointed by the government's 'comprehensive real estate tax bomb,' once again choose the United Future Party to check the administration?

Yoo Kyung-jun, the United Future Party candidate, strongly criticized the Moon administration's real estate policy in an interview held at the Dogok Station office on the 1st, calling it "not a policy but politics that uses punitive measures against the rich to consolidate the support base and provoke class conflict." He said, "They have significantly raised the property tax even for households with two homes. If they want people to sell, they need to open an exit route, but the capital gains tax is also enormous," adding, "Those who own two or three houses also serve as providers of jeonse (long-term lease) supply, but if the comprehensive real estate tax is raised, it will be passed on to the jeonse prices."

Known as the younger brother of Yoo Ki-joon, a United Future Party lawmaker who declared he would not run and is called a 'pro-Park (pro-Park Geun-hye)' figure, Yoo is a labor economics expert. He graduated from Seoul National University with a degree in economics, earned a Ph.D. in economics from Cornell University in the U.S., and served as a research fellow and chief economist at the Korea Development Institute (KDI). He served as the Commissioner of Statistics Korea from 2015 to 2017 and was inaugurated as the president of the Korean Labor Economics Association in February. He said, "I wanted to develop the country with good policies, but since the government uses politics instead of policy, I had no choice but to enter the political arena myself."

He is also preparing alternatives to the continuously delayed Global Business Center (GBC) issue. He added, "Seoul City is not granting construction permits for GBC without any reason, which is also delaying reconstruction in the Gangnam area. There are many apartments that should enter reconstruction, such as Mido and Ssangyong Apartments, and we are reviewing specific alternatives."

Kim Han-gyu, the Democratic Party candidate, greeting commuters.

Kim Han-gyu, the Democratic Party candidate, is confident that he, as a ruling party lawmaker, can solve Gangnam-byeong's real estate problems better. He said, "Measures to reduce the comprehensive real estate tax burden for single-homeowners and other Gangnam issues can only be solved by a ruling party candidate who can communicate closely with the government," adding, "There is consensus within the Democratic Party to exempt the comprehensive real estate tax for single-homeowners who live in their homes and are not for speculative purposes."

Regarding reconstruction issues, he said, "There are many old apartments and houses in the Gangnam-byeong area, and many auxiliary facilities are outdated, but reconstruction is not progressing. You might think reconstruction should be regulated to stabilize real estate prices, but reconstruction is a matter of residential environment and basic safety, so I will actively persuade and solve the problem."

Kim boasts an impressive background, having graduated from Seoul National University’s Department of Political Science, earned a master's degree from Harvard Law School, and worked as a lawyer at Kim & Chang, but he emphasizes more that he is a 'local talent.' Living in Mido Apartment in Daechi-dong and raising his children there, he said, "We need to expand regular admissions in college entrance exams to guarantee equal opportunities and fair processes," adding, "This will reduce the burden on parents and students who spend on private tutoring and normalize school education."

Residents' opinions are divided. A woman in her 70s living in Eunma Apartment said, "The United Future Party seems to be making too many harsh remarks and fake news, probably because they lost power," and expressed, "I want to support the Democratic Party." Another man in his 70s said, "I don't even know who the candidates are," and waved his hand, saying, "I will vote based on the person." A man in his 60s met at Mido Apartment, considered a leading candidate for reconstruction along with Eunma, said, "I originally supported the Democratic Party but turned away during the Cho Kuk incident," adding, "I will vote for the United Future Party candidate as a form of check and balance."

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