Kim Tae-nyeon: "July National Assembly, a Turning Point for Housing Price Stability... Prioritizing 'Lease 3 Acts' as the Top Task"

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the policy coordination meeting held at the National Assembly on the 16th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Kim Tae-nyeon, the floor leader of the Democratic Party of Korea, stated, "We will make the July National Assembly a turning point for stabilizing housing prices," and announced that the 'Three Lease Laws' will be handled as the top priority.

At the policy coordination meeting held at the National Assembly on the morning of the 16th, Floor Leader Kim said, "With today's opening ceremony, the July extraordinary session of the National Assembly will be fully activated," and added, "We will definitely pass the Real Estate Tax Act and the Three Lease Laws during the July extraordinary session."

He emphasized, "We will make the July National Assembly a turning point for stabilizing housing prices. The Democratic Party and the real estate market's determination to stabilize is stronger than ever," and stated, "For the sake of stabilizing housing prices, we will not set any limits on any sacred cows."

In particular, he said, "We clearly recognize that if the Three Lease Laws are delayed, tenants facing lease renewals may suffer," and added, "We will handle this as the top legislative priority in the July National Assembly. We will continue to expand the tenant protection network to prevent any burden from being shifted to tenants by exploiting gaps in the system."

He continued, "The party and the government will also promptly promote the expansion of housing supply," and said, "We will review all proposed measures, including urban regulation improvements for urban shared development, discovery of new sites such as idle land, and supply of public rental and sale apartments for young newlyweds through easing urban regulations on public redevelopment and reconstruction projects, to prepare a comprehensive supply plan."

Regarding the employment trend in June, he said, "Employment has decreased for four consecutive months, and the unemployment rate recorded the highest level since statistics began in 1999," and added, "Through the New Deal, we will create 1.9 million quality jobs over five years. The government should swiftly implement the 570,000 direct job projects included in the third supplementary budget to provide emergency jobs for vulnerable groups." He also added, "We will establish a roadmap for the nationwide employment insurance system within this year."

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