People Power Party Unites Against the "Jeonse Crisis"... Kim Jong-in Calls It a Laughable Phenomenon of Lining Up to Draw Lots

Kim Jong-in, the Emergency Committee Chairman of the People Power Party, is attending the Emergency Committee meeting held at the National Assembly on the 15th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lee Ji-eun] The People Power Party recently criticized the Moon Jae-in administration's real estate failures, including the deepening jeonse crisis to the extent that people are drawing lots to secure jeonse leases.

Kim Jong-in, the emergency committee chairman of the People Power Party, said at the party's emergency committee meeting held at the National Assembly on the 15th, "We are witnessing an absurd phenomenon amid the recent jeonse crisis."

He added, "Hong Nam-ki, the Deputy Prime Minister for Economy, is considering various measures to resolve the jeonse crisis, but he himself is becoming a victim of the crisis. People looking for jeonse are lining up to draw lots, which is an absurd situation. I urge reflection on who the housing policies implemented by this government are truly for."

Joo Ho-young, the floor leader, also said, "Our party member Yoon Hee-sook spoke passionately and movingly about the side effects of the Lease Protection Act, but at that time, no one listened. Now, the backlash from the hastily and forcefully pushed Lease Protection Act is targeting the economic leaders," adding, "Even now, instead of saying 'tenant rights have been strengthened,' the government should apologize, reflect, and find supplementary measures."

Kim Hyun-ah, an emergency committee member, criticized, "Finding a jeonse apartment in Seoul has become another lottery," and said, "Due to the Lease Protection Act, renewals have increased, reducing supply, and popular units in good school districts or with convenient transportation have disappeared." She added, "Although the government significantly relaxed the subscription criteria for newlyweds yesterday, the fact that subscription is like a lottery remains unchanged, and even if a subscription opportunity is given with difficulty, loans are a concern. Additional measures are coming out, but I hope this policy will not become a misstep that confuses the market and ordinary people."

Kim Ki-hyun, a People Power Party lawmaker, appeared on YTN Radio's 'Hwang Bo-seon's Start of a New Morning' on the same day and said, "Due to policy mistakes, housing prices are skyrocketing, and jeonse is completely depleted, leading to a ridiculous situation where people have to draw lots to find jeonse houses," adding, "The president has not issued a single public apology regarding this serious situation, and neither Deputy Prime Minister Hong nor Minister Kim has apologized."

Kim also pointed out, "President Moon should dismiss Deputy Prime Minister Hong and Minister Kim. The people are suffering greatly due to policy failures, and if there is no accountability for that, how can responsible politics be practiced?"

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