Jinseongjun: "Kim Hyunmi's remark 'It's unfortunate for people in their 30s to go all-in on loans' is not something that requires an apology"

"Don't Be Swayed by Those Targeting Real Estate Speculation"

Jin Seong-jun, Chairman of the Strategic Planning Committee of the Democratic Party of Korea. / Photo by Yonhap News

[Asia Economy Intern Reporter Kim Seul-gi] As Minister of Land, Infrastructure and Transport Kim Hyun-mi's remark expressing regret over the 'Youngkkeul' (borrowing every last bit of money to buy a house) phenomenon among people in their 30s has sparked calls for an apology, Jin Seong-jun, the Strategic Planning Committee Chairman of the Democratic Party of Korea, said on the 28th, "I don't understand why expressing regret should require an apology."

In an interview with KBS Radio's 'Kim Kyung-rae's Strong Current Affairs' on the same day, Chairman Jin said, "If you just wait a little longer, you will be able to purchase affordable and high-quality apartments, including those in the 3rd phase new towns."

He added, "(Minister Kim) was referring to whether people in their 30s should become scapegoats or victims to speculative forces and those seeking unearned income by labeling the properties put up for sale by corporations or multi-homeowners as so-called 'Youngkkeul'." He reiterated, "I don't see why that should be something to apologize for."

He continued, "I believe that the real estate market soaring like this is a sign of the country heading towards ruin. No matter what, I think we must control (real estate prices)." He said, "The government must make efforts, but there is clearly a part where our citizens must also work together."

He went on, "The media is the same. What good does it do to recklessly say things like 'the real estate market won't be controlled,' 'real estate prices will keep rising,' or 'they are actually rising'?" He explained, "This is not about hiding reality. There are forces aiming to make a fortune through real estate speculation, and there are people who are being played or deceived by these forces and rushing down the path of becoming victims. We need to calm down."

He added, "We need to create a social consensus that real estate should truly be recognized not as a means of wealth accumulation but as a space for residence, and that there should be a shift in economic activities as well."

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