Song Seok-jun: "The Three Lease Laws Can't Stop Real Estate Prices from Soaring... Please Just Stay Still"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] On the 4th, Song Seokjun, a member of the Future United Party, said, "Every time housing policies are released, the housing market falls into chaos," and urged, "The government should please just stay still."

On the same day, during a National Assembly plenary session opposition debate, Rep. Song criticized the government and ruling party, saying, "Punitive real estate taxation and the three laws on jeonse and monthly rent are causing market confusion, contrary to their original intent."

Regarding the bill to increase taxes on multi-homeowners, he pointed out, "While unearned income should be boldly taxed, why impose the world's highest level of punitive taxation? Punitive tax increases can rather lead to burden shifting and avoidance, causing housing prices to skyrocket and the market to fall into confusion."

Rep. Song also criticized the three laws on jeonse and monthly rent, which focus on the rent ceiling system and the right to request contract renewal, saying, "Of course, affordable prices and terms should be provided to protect tenants, but this law only extends the jeonse and monthly rent period by four years and cannot prevent rent surges at each renewal."

He expressed concern, stating, "On the contrary, receiving daily reports on tenants' jeonse and monthly rent and controlling prices and terms can only cause side effects and confusion," and warned, "It will only deepen conflicts between landlords and tenants and cause other side effects."

Rep. Song urged, "The government should please focus on supplying housing needed by non-homeowning low-income citizens. For those with insufficient income capacity, increase affordable and stable public rental housing, and boldly ease unnecessary regulations to normalize the housing market," adding, "Do not beat housing demanders as speculators, and do not try to control citizens' residential lives with difficulty."

Regarding the supply measures announced by the government that day, he criticized, calling them "too late," and said, "Although the measures were announced, they have not even properly presented a schedule."

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