Noh Young-min "Majority of the Public Supports Real Estate Policy" 30s and 40s "Are You Performing a Rain Ritual?" Frustrated

Noh Young-min "Housing Prices Stabilizing, Real Estate Policy Effects Emerging"
Responding to Apartment Price Gain Criticism, "Prices Also Rose During MB and Park Geun-hye Administrations"

Chief Presidential Secretary Noh Young-min Photo by Yonhap News

[Asia Economy Reporter Han Seung-gon] On the 25th, Roh Young-min, Chief of Staff to President Moon Jae-in, stated that "the majority of the people support" the Moon administration's real estate policy. This comment has sparked criticism among members of online real estate cafes, with remarks such as "It's embarrassing," "I can't understand it," and "I'm furious." There are still criticisms that people in their 30s and 40s do not understand why they are taking to the streets to oppose the real estate policy.

On the same day, Roh appeared before the National Assembly's Steering Committee and responded to a question from Kim Jung-jae, a member of the Future United Party, asking, "Do you think the public agrees with the government's real estate policy?" Roh replied, "I believe that the effects are gradually appearing following the continuous real estate stabilization policies, and I am hopeful."

Roh added, "Analyzing the statistical data released by the Korea Appraisal Board shows that the current trend is toward stabilization," emphasizing, "According to weekly statistics, there has been almost no increase in apartment prices in Seoul, especially in the Gangnam area, for two consecutive weeks."

In response to Roh's remarks implying that the Moon administration's real estate policy has no problems, Representative Kim criticized, "This is a judgment disconnected from the people. It seems like 'a hundred million won' feels like nothing to you because you live in Gangnam and made a 500 million won profit in three years after selling."

Roh raised his voice, saying, "I lived in that apartment for 15 years. Why are you talking about just three years?" He continued, "Did my apartment prices only rise under our government? They also rose under the MB (Lee Myung-bak) and Park Geun-hye administrations," he countered.

On the afternoon of the 25th, a post condemning Director Noh's remarks was uploaded to an online real estate-related cafe. Photo by Naver, screenshot of a post from a real estate cafe free board.

Following Roh's remarks that "there is no problem with the real estate policy," online real estate cafes continued to voice criticism.

At 9:34 p.m. that day, a post was uploaded on a real estate-related cafe on a portal site sharing the related article with the comment, "They have been saying this for four years, and now only one year remains in their term." Another member criticized, "(People in the Moon Jae-in administration) still seem to be living in a dream."

One netizen sharply commented, "If you keep performing rain rituals, it will rain. But the policy is not even a rain ritual. Please reflect on whether you have used proper policies so far." Another netizen emphasized, "It seems like cognitive dissonance. This is a government we can no longer expect anything from," expressing a loss of hope in the government's real estate policy.

The atmosphere was similar in other real estate-related cafes. A cafe member posted at 10:29 p.m., "Is it really an accurate answer to say that house prices rose under the Lee Myung-bak administration?" Meanwhile, other members of real estate cafes raised doubts, asking, "What data exactly is the president looking at to claim that real estate has stabilized?"

Meanwhile, during the plenary session that day, a dispute arose over the reliability of the statistical data mentioned by Roh. When Gwak Sang-do, a member of the United Party, asked, "The statistics for this month should be out, but isn't it impossible to know the effect with last month's data?" Roh replied, "Weekly statistics are being released. I understand that there has been almost no increase in apartment prices in Seoul, especially in Gangnam, for two consecutive weeks."

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