Kim Jong-in: "President Moon, on what basis are you confident about Jeonse price stabilization?"

"Real Estate Policy, Admit Mistakes and... Need Comprehensive Adjustment"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Kim Jong-in, Emergency Committee Chairman of the People Power Party, criticized President Moon Jae-in's statement in the policy speech on the 29th that he would "definitely stabilize the jeonse market," saying, "I cannot understand on what basis he is confident."

At the Emergency Committee meeting held at the National Assembly that day, Chairman Kim said, "The government says it is implementing real estate measures, but the result has continuously caused apartment prices to rise," and added, "With the goal of suppressing apartment price increases, they have only brought about increases in comprehensive real estate tax and property tax."

Chairman Kim pointed out, "Taxes are a means to secure national revenue, not something that can be used arbitrarily for policy purposes," and said, "Ultimately, the people have no choice but to suffer from the burden of those taxes."

He also stated, "I do not understand what the real estate policy was truly aiming for," and said, "Homeowners who have no fault are burdened under the pretext of real estate speculation and face difficulties. In fact, people who have lived with just one house throughout their lives enter old age with little other income, so if property tax alone is raised, how will their livelihood be?"

Regarding the Democratic Party of Korea's move to ease the property tax burden on single-homeowners, Chairman Kim said, "It seems they do not have an accurate understanding of how to approach that either," and added, "I ask the government to review its past real estate policies, admit what was wrong, and make comprehensive adjustments."

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