Yoon Hee-sook: "Kim Hyun-mi's Remarks Are Absurd... Jeonse Crisis Due to Lease 3 Laws"

[Asia Economy Reporter Lee Ji-eun] Yoon Hee-sook, a member of the People Power Party, criticized Minister of Land, Infrastructure and Transport Kim Hyun-mi's remark that "the recent difficulties in Jeonse are not due to the Lease Protection 3 Laws," calling it "absurd."

On the 10th, Yoon said on Facebook, "The Lease Protection 3 Laws prevented existing tenants from moving, reducing supply through circulation, and threatened landlords, further drastically reducing supply and causing prices to soar beyond affordability."

This was a rebuttal to Minister Kim's statement at the National Assembly the previous day, saying, "The recent difficulties in Jeonse are not due to the Lease Protection 3 Laws. While exercising the renewal request right reduces (Jeonse) supply, the demand also decreases simultaneously because those living in existing homes continue to reside."

She called it an "absurd remark" and pointed out, "The basic mechanism of the Jeonse market is that new Jeonse demand mixes with existing tenants, and if prices rise moderately due to supply and demand, tenants change or remain among those willing to accept that price." However, the Lease Protection 3 Laws have disrupted this market order.

Yoon said, "It is hard to believe that the Minister of Land and officials do not understand this market basic and say such nonsense," and criticized, "It only looks like they shamelessly pretend ignorance because they do not want to admit policy failure."

Regarding Lee Ho-seung, the Chief Presidential Secretary for Economic Affairs, saying in an interview the previous day, "We must endure the temporary impact caused by the system change in the Jeonse market; otherwise, no system can be implemented," Yoon responded, "If the necessary system improvement was promoted in the best way, that would be true," but questioned, "Did the Jeonse market fluctuate and prices surge before the law revision, making such drastic intervention inevitable?"

She criticized, "Was it inevitable to divide people by saying landlords are not subjects to be protected by the Lease Protection Act? How about the legislative process that pushed through without deliberation, bypassing the legally prescribed review process?" and asked, "Who is this policy really for, and who are the officials insisting it was done well?"

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