Kim Jin-ae: "The National Assembly Finally Earns Its Keep... United Future Party, Stop Pouring Oil on the Real Estate Market"

Kim Jin-ae, a member of the Open Democratic Party, is speaking in favor of a real estate policy bill at the National Assembly plenary session on the 4th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Park Cheol-eung] On the 4th, Kim Jin-ae, a member of the Open Democratic Party, emphasized in the National Assembly plenary session during the debate in favor of the Comprehensive Real Estate Tax amendment bill that "this is the day the National Assembly finally earns its keep."

Kim said, "These are laws that should have been institutionalized long ago," adding, "If the Lee Myung-bak and Park Geun-hye administrations had not continuously undermined the Comprehensive Real Estate Tax introduced 14 years ago and the three lease laws from the 18th National Assembly 10 years ago, the current real estate issues would have been somewhat resolved."

He continued, "If the cycle of 'burying money in land and swimming by touching the ground' and 'money eating money' continues, the will to work hard and live well disappears. Now, let's break this vicious cycle."

He also emphasized the expansion of public rental housing. Kim said, "Public rental housing does not even reach 10%," and added, "We must diligently build and manage it to reach up to 15%. Taxes should be invested to build public rental housing."

He strongly criticized the United Future Party. Kim said, "The recent real estate supply policy proposed by the United Future Party, except for the post-sale system, is basically a policy to pour oil on the real estate market," and added, "Until demand suppression measures are established, we should not pour oil. Who benefits from this?"

Regarding the Ministry of Economy and Finance, he said, "Get your act together," and added, "Don't act as if everything is done just because you barely did what you had to this time. You must continue to present visions related to property holding taxes."

He further stated, "The Ministry of Economy and Finance should not hold all the power over housing supply; the Ministry of Land, Infrastructure and Transport should be empowered. The media should also stop exaggerating. Do not be swayed by real estate advertisers and click counts. Do not allow real estate inflation disguised as news."

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