Kim Hee-guk: "Rights of Rental Business Operators Who Trusted Government Promises Must Be Protected... Concern Over Creating Victims of Goodwill"

[Image source=Yonhap News]

[Asia Economy Reporters Lee Ji-eun and Lim Chun-han] Kim Hee-guk, a member of the Future United Party, emphasized that "the rights of rental business operators who trusted the government must be protected" and warned that the Special Act on Private Rental Housing could create victims acting in good faith.

On the 4th, during a debate at the National Assembly plenary session, Rep. Kim stated, "Just as tenants are protected, landlords must also be protected."

The Special Act on Private Rental Housing aims to abolish tax benefits such as acquisition tax reductions that were provided to landlords who registered as rental business operators and rented out their properties for either a short-term period of 4 years or a long-term period of 8 years.

Rep. Kim said, "The reason for the existence of the state is to protect the lives and property of its citizens, and laws and systems are important means to achieve this goal. Laws must be fair and feasible, but looking at the contents of this bill, there is concern that it could create victims acting in good faith."

He added, "If the tax benefits for rental business operators are abolished, there is no regulation defining the status of the operators, and applying new regulations raises several issues regarding the benefits received by the operators. The government says it will provide benefits, but this has not been legislated yet." He pointed out the problem that when the rental obligation period ends and the rental housing registration is canceled, the rental business operator becomes an individual multi-homeowner, causing a sharp increase in taxation.

Rep. Kim emphasized, "There are people who have conducted businesses for the originally intended 8-year period, but if the new regulations are applied, problems such as tax benefits will arise. This issue should also be addressed by amending the law to ensure no retroactive application before passing it. The rights of those who started their business trusting the government must be protected."

On the same day, the National Assembly passed the Special Act on Private Rental Housing with 182 votes in favor, 1 against, and 1 abstention out of 184 members present.

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