"House Prices? Still Not Falling" Yeo Jin Seong-jun Reveals True Feelings... Broadcast Mishap Sparks Political Fallout

Jinseongjun, Member of the Democratic Party of Korea. [Image source=Yonhap News]

[Asia Economy Reporter Heo Midam] On the 16th, Jin Seongjun, a member of the Democratic Party of Korea, sparked controversy by saying that "it will be difficult to control house prices despite the government's real estate measures." This remark came up during a conversation among discussants after the conclusion of the debate on the '7·10 Real Estate Measures.' Although it can be considered a kind of broadcasting accident, it is expected to cause political repercussions since it was made by a ruling party official responsible for formulating real estate policies.

On the same day, Jin participated in MBC's '100-Minute Debate' held under the theme "Will house prices really be controlled this time?" to discuss the 7·10 real estate measures.

As progressive panelists, Jin and Professor Choi Baekgeun from Konkuk University's Department of Economics took part, while conservative panelists included Kim Hyun-ah, Emergency Committee Chair of the United Future Party, and Song Seokjun, a member of the same party. They discussed various topics such as house prices in Seoul and the metropolitan area and the direction of real estate policies that the government should lead.

After the debate ended, Jin exchanged greetings with the other participants. During this process, when Chair Kim said, "Because a drop in house prices would be too burdensome for the national economy, we cannot let them fall so drastically," Jin replied, "Even if that happens, prices will not fall. Real estate issues are not something new from yesterday or today."

In response, Chair Kim said, "What will the public think if a ruling party (National Assembly) Land, Infrastructure and Transport Committee member says that?" Jin did not provide any further answer.

Jin's remarks contrast with the points he made during the debate. In the debate, Jin asserted, "The time has come to establish the principles of real estate policy," "We have come to implement fundamental remedies," and "This policy must be upheld even if the administration changes."

Earlier that day, President Moon Jae-in stated in his opening speech to the 21st National Assembly, "The government will take all necessary measures to suppress speculation and stabilize house prices," adding, "We will increase the housing holding burden on multi-homeowners and significantly raise capital gains tax on price differences to make it clear that no more money can be made through real estate speculation."

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