Kim Jong-in "An Unlaughable Incident Occurred"... Government Officials Also 'Embarrassed'

Opposition Criticizes Nationwide Jeonse Crisis... "No Laughing Matter, Need to Find Solutions"

[Image source=Yonhap News]

[Asia Economy reporters Jang Sehee and Lee Jieun] Following Asia Economy's report that Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is facing difficulties in selling his apartment in Uiwang, Gyeonggi Province, after his rental house in Mapo, Seoul, political circles are increasingly calling for urgent supplementary measures. The news that Deputy Prime Minister Hong is actually stuck with the real estate policy he oversees has also caused a significant stir within government circles. ▶Refer to our October 14th front-page article

On the 15th, Kim Jong-in, Emergency Committee Chairman of the People Power Party, said at a People Power Party Emergency Committee meeting held at the National Assembly, "Recently, an unamusing phenomenon has appeared amid the rental housing crisis."

He stated, "Deputy Prime Minister Hong Nam-ki is considering various measures to resolve the rental housing crisis, but he himself is becoming a victim of the rental housing crisis," adding, "People looking for rental housing are lining up to draw lots, an unamusing phenomenon, and I urge reflection on who the housing policies implemented by this government are truly for."

Joo Ho-young, floor leader of the same party, 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, and now the backlash from the hastily and forcefully pushed Lease Protection Act is targeting the economic chief," adding, "Even now, instead of saying 'tenant rights have been strengthened,' they should apologize, reflect, and find supplementary measures." The opposition parties unanimously pointed out the deepening problems in the rental market, where people have recently resorted to drawing lots to find rental housing. Yoon, a former Korea Development Institute (KDI) official, drew attention by applying for a 5-minute free speech at the National Assembly at the end of July, warning that the ruling party’s forced passage of the three Lease Protection Acts would cause a rental housing crisis.

The atmosphere in Sejong government offices is similarly embarrassed. They collectively did not expect that an apartment sale contract made in early August would fail due to the Lease Protection Acts. A government official who requested anonymity said, "A situation has arisen where one cannot buy or sell, becoming a perfect example of the Lease Protection Acts," adding, "If the tenant suddenly changes their mind, there is practically nothing the landlord can do."

There is also discomfort in various places about private contracts being publicized simply because the parties are public officials. It is considered inappropriate for personal matters to be exposed just because they are public servants.

Meanwhile, Deputy Prime Minister Hong is facing setbacks in his plan to sell the Uiwang apartment as the existing tenant exercises the right to request contract renewal and expresses a desire to continue residing there.

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