Lee Haechan: "Housing Market Stabilization Measures Will Continue... Multiple Homeowners Should Sell"

Lee Haechan, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 5th and delivering an opening remark. Photo by Yoon Dongju doso7@

[Asia Economy, reporter Won Dara] Lee Haechan, leader of the Democratic Party of Korea, emphasized that housing market stabilization measures will continue to be a core policy of the Democratic Party during the 21st National Assembly. He also warned real estate speculators, saying, "It will be in your best interest to dispose of multiple properties as soon as possible."

At the Supreme Council meeting held at the National Assembly on the morning of the 5th, Lee stated, "Yesterday, the Act on Report of Real Estate Transactions, the Comprehensive Real Estate Holding Tax Act, the Corporate Tax Act, and the Income Tax Act were passed at the plenary session. The government also announced a plan to supply housing in the Seoul metropolitan area," adding, "Now is the time to end the era where people earn speculative profits through owning multiple homes."

He continued, "We will ensure that speculative profits from owning multiple homes for investment purposes are recovered through corresponding tax measures," and made it clear, "I want to state unequivocally that those who own multiple homes for speculation will benefit by disposing of them as soon as possible." He further emphasized, "Policies to stabilize the housing market and enhance tenant security through real estate tax reform and supply for actual residence should not be one-off measures, but must be pursued consistently. We will push forward with these as the most essential policies of the Democratic Party throughout the 21st National Assembly."

Regarding the passage of follow-up bills related to the establishment of the Corruption Investigation Office for High-ranking Officials (CIO), he said, "Currently, the legal deadline for establishing the CIO, which was set for July 15, has passed, so we are in violation of the law." He urged, "I hope the United Future Party fulfills its legal responsibility by appointing recommendation committee members by the start of the August session at the latest. If not, I make it clear that we will take alternative measures to launch the CIO."

Addressing the ongoing damage caused by heavy rain, Lee stated, "According to a government report yesterday, due to the impact of an approaching typhoon, heavy rainfall is expected to continue for ten days until the 14th," and added, "We will do our utmost within the party to prevent accidents by being fully prepared. I offer my deepest condolences to those who have lost their lives."

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