President Moon: "Actively Explore Necessary Measures to Expand Housing Supply" (Update)

Urging Prompt Passage of Lease 3 Laws, Commercial Act, Fair Trade Act... Resuming 'Yeoyajeong National Policy Standing Consultative Body' to Promote Regular Meetings

President Moon Jae-in is delivering an opening congratulatory speech at the opening ceremony of the 21st National Assembly held in the main chamber of the National Assembly on the 16th. 2020.7.16 [Image source=Yonhap News]

[Asia Economy Reporter Son Sun-hee] President Moon Jae-in said on the 16th, "We will actively seek necessary measures while listening to the voices of the opposition demanding an expansion of housing supply," and added, "I hope the National Assembly will also cooperate."

In a speech at the 'Opening Ceremony of the 21st National Assembly' that afternoon, President Moon said, "We will ease the burden on actual residents owning one house per household and strongly promote measures for housing purchase and residential stability for real demanders such as low-income people and youth."

President Moon emphasized, "Without suppressing speculative demand rushing into real estate, we cannot protect real demanders," and said, "The government will take all necessary measures to curb speculation and stabilize housing prices." He continued, "We will clearly make it known that 'no more money can be made through real estate speculation' by increasing the housing holding burden on multi-homeowners and significantly raising capital gains tax on price differences."

He then mentioned the government's follow-up legislative tasks on real estate measures such as the three lease laws (Jeonwolse Reporting System, Contract Renewal Request Right, and Jeonwolse Rent Cap System), requesting cooperation by saying, "If the National Assembly does not support these measures through legislation, the government's measures will always be half-hearted." He also added, "I hope the 21st National Assembly will promptly handle bills for fair economy and coexistence, such as the Commercial Act, Fair Trade Act, Financial Group Supervision Act, Large and Small Business Coexistence Act, and Distribution Industry Development Act."

President Moon also emphasized the realization of 'fair value' and urged the swift launch of the High-ranking Officials' Crime Investigation Office (Gongsoocheo). He pointed out, "The launch date of Gongsoocheo, as stipulated by law, has already passed," and said, "The government has completed preparations such as revising subordinate laws, but matters that the National Assembly must decide, including the appointment of the Gongsoocheo chief, have not yet been resolved." He added, "I repeatedly ask that recommendations be completed and confirmation hearings be held within the deadline during this session, and I hope the 21st National Assembly will complete the reform of power institutions."

President Moon stated, "The government will also do its best to support the National Assembly's path for the people," and said, "We will expand communication with the National Assembly in various ways without insisting on the form of dialogue, including resuming the 'Standing Consultative Body for State Affairs between the Ruling and Opposition Parties,'" and announced plans to promote regular meetings with both ruling and opposition parties.

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