Democratic Party's 'Comprehensive Real Estate Survey' Policy... Multi-Homeowner Lawmakers Say "Will Sell"

Multi-Homeowners Among Democratic Party Lawmakers Express Intent to Sell
42 of 180 Members from Democratic and Civic Parties Are Multi-Homeowners
Gyeongsilryeon: "Democratic Party Becoming Speculative Forces"

Activists from the Citizens' Coalition for Economic Justice (CCEJ) are holding a press conference on the morning of the 7th in front of the Democratic Party headquarters in Yeouido, Seoul, urging Democratic Party lawmakers with multiple homes to dispose of their properties. / Photo by Yonhap News

[Asia Economy Intern Reporter Lim Juhyung] As the Democratic Party of Korea conducts a 'comprehensive real estate survey' on all its members, lawmakers previously identified as multi-homeowners have expressed their intention to proceed with the disposal of their properties.

Lee Gaeho, who was found to own the most houses among Democratic Party lawmakers with five properties, stated, "Three of the five houses were inherited assets, and I have given up my shares in two of them." He added, "I am in the process of relinquishing the remaining one, and the others are currently being sold. I will keep only one house in Gwangju for my family's actual residence."

Lim Jongseong, who owns four properties including two in Gangnam-gu, Seoul, and two in the metropolitan area, said, "I had already put all four houses on the market at prices lower than the market value, but they have not been sold yet."

Lee Sangmin, a three-homeowner, explained, "My mother and I each live in two apartments in Daejeon," adding, "The remaining one is a residential commercial building in Osan, prepared for commuting due to leg difficulties. That property was not in a speculative overheated district during the general election."

He further expressed his willingness to sell, saying, "If the party advises me to sell, I will do so."

Another three-homeowner, Park Beomgye, wrote on Facebook that he and his wife have agreed to sequentially dispose of the houses and buildings in Daegu and Miryang, which were pointed out as problematic multi-homeownership.

Activists from the Citizens' Coalition for Economic Justice are holding a performance on the 7th in front of the Democratic Party headquarters, urging multi-homeowner lawmakers to dispose of their houses. / Photo by Yonhap News

Earlier, the Democratic Party launched a full survey on the housing status of its 176 members. On the morning of the 7th, Democratic Party lawmaker Kim Namguk said in a radio interview, "The party immediately checked the current real estate holdings of the lawmakers yesterday," adding, "They told me to bring real estate contracts early this morning. I asked, 'I don't own any real estate, do I still have to bring them?' They said, 'Bring everything.'

The Democratic Party's policy of conducting a comprehensive survey on housing ownership is interpreted as an effort to demonstrate its commitment to eradicating real estate speculation by first 'cleaning up within the party' amid growing public unrest due to unstable real estate prices.

The Citizens' Coalition for Economic Justice (CCEJ) held a press conference at the Democratic Party headquarters in Yeouido, Seoul, on the same day, announcing the housing ownership status of Democratic Party lawmakers and urging, "Multi-homeowners among lawmakers should dispose of their houses immediately."

According to CCEJ, among the 180 lawmakers from the Democratic Party and the Together Citizens' Party elected in the 21st general election, 42, or about 23%, were confirmed to be multi-homeowners. Among them, 21 lawmakers own multiple houses in speculative areas, speculative overheated districts, or regulated areas.

CCEJ stated, "Multi-homeowners have not put their properties on the market and are watching the market and policies amid the contradictory actions of the Moon Jae-in administration," adding, "Although the ruling Democratic Party should lead the removal of real estate bubbles and the eradication of speculation, it has opposed real estate reform by becoming a speculative force itself."

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