"Take Responsibility for Policy Failure and Resign," Opposition's Rebuke... Hong Nam-ki Says "Not Attached to Position"

Economic Sector Interpellation to the Government at the National Assembly on the 23rd

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyun-jung] On the 23rd, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, responded to opposition lawmakers' demands to "resign" over responsibility for rising real estate prices and tax resistance following tax reform, saying, "I am not attached to my position."

At the economic sector government questioning session held at the National Assembly in Yeouido, Seoul, in the afternoon, Hong said in response to Rep. Kim Hee-guk of the Future United Party's call to take responsibility for policy failures such as rising real estate prices and resign, "I believe it is my duty to act responsibly as long as I hold public office. I will do my best, even if it means staying up all night, until my last day."

Earlier, Rep. Kim raised his voice, saying, "Deputy Prime Minister Hong seems to have a good character, but there are comments that he lacks the power to adjust government policies," and demanded, "Take responsibility for policy failures and resign." This led to a brief commotion in the chamber as ruling party lawmakers protested.

In response to Rep. Kim's criticism that "Although it was promised that one-homeowners would not face increased tax burdens, many actually received notices showing higher tax burdens this year," Hong replied, "Housing prices are rising, so they inevitably have to go up." Hearing this, Rep. Kim shouted, "Is it the homeowner's fault that house prices are rising?" and "Is it acceptable to suddenly raise tax rates?" When Hong again responded, "When housing prices rise from 300 million won to 500 million won, taxes (inevitably increase)," Rep. Kim pointed out, "The problem is that this does not align with income growth or inflation rates," and said, "You don't seem to understand."

In response to repeated criticisms related to real estate, Hong said, "I am aware that people are suffering in reality, and the government also recognizes this and will make policy efforts to help as much as possible," adding, "If there have been difficulties due to instability in the real estate market, I sincerely apologize for that."

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