Kim Tae-nyeon: "The Party and Government Are Firmly Committed to Eradicating Speculation... Always Ready with Strong Additional Measures"

Completion of Legislation with Passage of Tax Law and Related Follow-up Bills

[Asia Economy Reporter Jeon Jinyoung] Kim Tae-nyeon, floor leader of the Democratic Party of Korea, stated on the 31st, "The Democratic Party and the government are always prepared with strong additional measures to eradicate real estate speculation and stabilize the market." On the 30th, the Democratic Party held a plenary session and passed the amendment to the Housing Lease Protection Act by a solo vote.

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 31st and delivering an opening remark. Photo by Yoon Dong-joo doso7@

Floor leader Kim held a Supreme Council meeting at the National Assembly that morning and said, "Yesterday, the Democratic Party achieved a great innovation in the tenant protection system."

He said, "So far, 7.5 million non-homeowner households have suffered from housing instability every two years," and emphasized, "The passage of the amendment to the Housing Lease Protection Act is a significant achievement that guarantees stability for the common people. Once the revised promulgation bill is approved at today's Cabinet meeting, it will be implemented immediately to minimize market instability."

Floor leader Kim also stated, "We will strive to create a society where people can live stably without worries about moving or rent increases," and added, "We will firmly respond to disruptive acts by mobilizing all policy tools and capabilities."

He noted, "Some media reports include exaggerated news that magnifies minor issues, and it seems that market disruption acts are occurring in some areas," and said, "The Democratic Party and the government will carefully ensure that the passed laws and systems are properly established and will meticulously prevent any gaps."

Floor leader Kim emphasized that he will also focus on passing follow-up bills. He added, "We will pass the remaining bills, including real estate tax laws, to complete legislation for housing market stability."

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