[Summary] Choo Mi-ae "Young Generation Speculative Frenzy" vs United Future Party "Left-Wing Distorted Perception"

Choo Mi-ae "Speculation by Housewives and Young People... House Prices Not Only the Government's Fault"
Kim Geun-sik "Are People Who Work Hard and Save to Buy a Home Speculators?"

Minister of Justice Choo Mi-ae is delivering a public address on COVID-19 at the Government Seoul Office on the afternoon of the 21st, together with Minister of the Interior and Safety Jin Young and Chairman of the Korea Communications Commission Han Sang-hyuk.
[Image source=Yonhap News]

[Asia Economy Reporter Han Seung-gon] Minister of Justice Chu Mi-ae claimed that "the rapid rise in real estate prices is due to speculative forces," adding, "Following ordinary housewives, even the younger generation has jumped into the speculative ranks, and speculative sentiment has spread socially like an epidemic. It cannot be entirely blamed on the government." In response, the United Future Party strongly criticized Minister Chu, saying she has "started to spout nonsense."

On the 23rd, Minister Chu wrote on her Facebook, "A vaccine for the real estate speculation epidemic has not yet been developed. This is because diagnosis and prescription are separate," and added, "Conservative media criticize the administration with comments like 'What have you done in three years of power?' while simultaneously showing a dual attitude by defending market fundamentalism that treats speculative markets as just markets."

She also stated, "The media once clearly observed and reported on the phenomenon with accurate diagnosis," but "the prescription, such as the government's designation of speculative overheating zones or expansion of new supply, is only a short-term measure and is ineffective."

On the previous day (22nd), through a Facebook post, Minister Chu said, "There are operational forces mocking real estate policies, and people who sympathize with them have become widespread, so any policy inevitably becomes a belated response," explaining, "This is why it cannot be entirely blamed on the government."

Regarding Minister Chu's claim that factors such as rising housing prices are due to speculative forces, the United Future Party immediately rebutted.

Hwang Gyu-hwan, deputy spokesperson of the United Future Party, said in a statement on the 23rd, "After being quiet for a while, she has once again started to spout nonsense on real estate issues, ignoring the suffering of the people amid the COVID-19 chaos," and criticized, "By that logic, if housing prices fall, is it because speculative forces restrained them rather than it being an achievement of the Moon Jae-in administration?"

Kim Geun-sik, professor at Gyeongnam University and chairman of the United Future Party's Songpa-byeong district committee in Seoul, also wrote on Facebook on the 23rd, "Are people who work hard and save to own a home speculative forces?" and urged, "Please fulfill the proper role of the Minister of Justice."

Professor Kim said, "Are young dual-income couples trying hard to find an apartment or housewives moving for their children's education speculative forces?" and added, "The failure of real estate policy is not due to speculative forces but due to the distorted perception of the ideological left that criminalizes even genuine homebuyers as speculative forces."

He continued, "Do not turn decent citizens into enemies," and said, "Do not label people who are diligently nurturing their dream of owning a home as speculative forces."

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