Jogi-sook: "President Moon said 'house prices will crash like in Japan'... A wrongly learned myth"

"Need to Verify Accuracy of President Moon's Real Estate Perception"

Professor Jo Gi-sook, Graduate School of International Studies, Ewha Womans University. Photo by Professor Jo (Facebook capture)

[Asia Economy Reporter Han Seung-gon] Professor Cho Ki-sook of Ewha Womans University Graduate School of International Studies, who served as the Blue House Chief of Public Relations under the Roh Moo-hyun administration, strongly criticized the government's real estate measures on the 28th, saying, "It is necessary to verify whether President Moon Jae-in's perception of real estate is accurate."

On the same day, Professor Cho posted an article titled "Wise Jeonse Life" on her Facebook, pointing out, "These days, Jeonse deposits have become scarce. Jeonse prices are rising day by day."

Professor Cho said, "Two years ago, I had an opportunity to talk about real estate with a close aide of President Moon," and added, "President Moon reportedly said, 'Like Japan, our housing prices will soon collapse, so don't buy a house and wait.'"

Regarding President Moon's reference to the Japanese case, she criticized, "Applying the decline of Japanese new towns to our country, which has a high concentration in the metropolitan area, does that make sense logically?" She added, "I thought the president must have learned a mistaken myth from his aides in the past; this is a serious problem."

She then claimed, "It has become clear that the progressive economists' assertion that housing prices would soon collapse like in Japan was all a lie."

Photo by Professor Cho Facebook capture

Professor Cho criticized, "I believe the cause of this government's failure in real estate policy lies in the lack of expertise," and "I blame my own foolishness for believing that, since I had experience during the Participatory Government, real estate speculation would not be able to take root once this government came into power."

She also said, "I do not recall many multi-homeowners among senior officials during the Participatory Government, but I was shocked to find many multi-homeowners in this government."

She continued, "I was surprised by the strong will of those who do not sell their houses even when the president and the Minister of Land, Infrastructure and Transport tell them to sell," and added, "Since the president's approval rating is high, the activist faction probably thinks they have become a party ordained by God, just like past conservative parties."

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