[Column] The Ruling Party's Unstoppable Speed in Real Estate Measures

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] "The leadership of the Democratic Party of Korea must listen to the voices from the field." The 'internal criticism' that had disappeared from the ruling party after the general election has reemerged, concerning the 'speed race in real estate measures.'

Immediately after the government announced its real estate supply measures, Jeong Cheong-rae, a Democratic Party lawmaker representing Mapo, expressed opposition, saying, "Sangam already has a rental ratio of 47%." Woo Won-shik, a former floor leader, also criticized the development of Taereung Golf Course, stating, "It is nothing but a typical case of reckless development. Traffic congestion will become even worse." While this can be interpreted as a gesture mindful of local constituents, it is quite different from the usual behavior of senior ruling party members who have moved in unison once the party's position was decided.

Regarding the real estate bills passed on the same day, some senior ruling party members also conveyed concerns to the leadership that they should not focus solely on rapid processing but should build consensus. Tax-increasing bills are usually decided after 'careful consideration.' This is because they directly affect the lives of the people. However, bills that include provisions to more than double certain tax rates were passed from the standing committee to the plenary session in just seven days.

However, the justification for this unprecedented 'speed race' is unconvincing. The supply measures are no different. Just hours after announcing the 50-story reconstruction involving public participation, Seoul City declared it 'not acceptable.' Major reconstruction associations in Seoul also stated they have no intention to participate. The government and the ruling party are desperate to somehow appease the angry public sentiment on real estate. But it should not be like looking for scorched rice water in a well.

It is telling that even Bae Jin-gyo, floor leader of the Justice Party who has often voiced opinions alongside the Democratic Party on major policy issues, pointed out that the Democratic Party completely ignored the principles of debate and infringed on lawmakers' legislative rights, turning the plenary session into a (Democratic Party) party meeting. The government and the ruling party with 176 seats are currently demonstrating that there is nothing they cannot do if they set their minds to it. Good policies are welcome, but conversely, the damage caused by hasty legislation and reckless measures falls entirely on the people. It is time for the Democratic Party to reconsider what the public expects from the ruling party with a huge majority.

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