Kim Jong-in "Optimistic about Next April's By-election... Must Introduce Post-sale System to Prevent Speculation"

Kim Jong-in, Emergency Committee Chairman of the United Future Party, is delivering opening remarks at the Kwanhun Club invitation debate held at the Press Center in Jung-gu, Seoul on the 14th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Lee Ji-eun] Kim Jong-in, Emergency Committee Chairman of the United Future Party, expressed a positive outlook, stating that "there is a relatively optimistic aspect to the by-elections in April next year." He also emphasized that if the United Future Party undergoes innovation that changes even its core structure, it can win against the ruling party in the next general election. Regarding real estate policy, he stressed the need for fundamental changes such as introducing a post-sale system and a youth mortgage system instead of the existing tax-only approach.

On the 14th, at the Kwanhun Forum held at the Korea Press Center, Chairman Kim said, "Public sentiment is boiling over, including the public's perception related to the late former Seoul Mayor Park Won-soon's death and so-called real estate issues." He added, "If the United Future Party properly understands the flow of public sentiment and devises appropriate measures to present to the citizens, it will receive considerable support," and said, "A fresh figure who can present a vision for the future should run as the Seoul mayoral candidate."

Regarding opposition presidential candidates mentioned in political circles such as Ahn Cheol-soo, leader of the People’s Party, former Deputy Prime Minister Kim Dong-yeon, and former lawmakers Hong Jung-wook and Jang Sung-min, he said, "I am not exactly sure whether those mentioned are seriously considering becoming presidential candidates, but I imagine some of them have such ambitions," adding, "Considering the situation unfolding in our country, the public has a consensus on 'what kind of person should become president,' and a suitable person will emerge as a presidential candidate."

In his opening remarks at the Kwanhun Forum, Chairman Kim referred to the innovation program of Germany’s Social Democratic Party, signaling changes within the United Future Party. He emphasized, "The goal of this innovation is to lay the foundation for a ruling party that can continue for 100 years," and said, "The German Social Democratic Party lost core agendas to the Christian Democratic Union and was out of power for nearly 20 years, but only after launching a fundamental innovation program and changing both its platform and policies were they able to achieve their goal of returning to power."

Regarding multi-homeowners within the United Future Party, he said, "If they judge their stance as public officials and intend to adopt attitudes based on social norms, each will handle their matters accordingly."

Kim Jong-in, Emergency Committee Chairman of the United Future Party, is delivering opening remarks at the Kwanhun Club invitation debate held at the Press Center in Jung-gu, Seoul on the 14th. Photo by Kang Jin-hyung aymsdream@

He stressed, "The lives of the people are becoming increasingly impoverished, and embarrassing incidents keep occurring both inside and outside the ruling power," adding, "Under normal circumstances, the ruling party should be destined to lose the next election, but that depends on how the United Future Party changes going forward."

Meanwhile, he also called for fundamental changes such as the post-sale system to curb real estate speculation. On the same day, at a keynote lecture during the 'Basic Income, Housing, and Real Estate Policy Seminar' hosted by the Near Foundation at the Bankers Hall, he proposed, "To provide housing for tenants, newlyweds, and young people, fundamental restructuring of the real estate market is necessary. The pre-sale system that has continued since the 1970s must be fundamentally reformed into a system where houses can be produced and sold as finished products in the market (post-sale system), and the youth mortgage system should be operated in the long term."

He also emphasized the need to discuss a basic income system centered on low-income groups suitable for Korea’s circumstances. Chairman Kim said, "As the presidential election approaches according to the political schedule, (each party) will try to showcase various basic income proposals," adding, "If the possibilities and limitations of (basic income) are clearly defined, a system that can help low-income and income-less people can be created."

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