Kwon Young-se "Real Estate Should Be Left to the Market... Many Recommendations for Seoul Mayor, Considering Carefully"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hye-min] Kwon Young-se, a four-term member of the People Power Party, revealed on the 12th that he is considering running in the Seoul mayoral by-election scheduled for April next year. He agreed that real estate issues are one of the major challenges for the next Seoul mayor and argued that the market trend should be followed.

On the same day, through CBS Radio's 'Kim Hyun-jung's News Show,' Kwon said, "I am receiving many recommendations from those around me to run for Seoul mayor, but I plan to decide after considering where the party needs me more and which area I can perform better."

However, he added, "There are very important issues for our party, including the by-election next year. But more importantly, there is the presidential election the year after," and said, "If the party needs me in areas other than giving up my parliamentary seat to run, I am willing to work on other tasks."

Regarding the Moon Jae-in administration's real estate policy, Kwon criticized it as a "failing policy that does not solve the problem at all," pointing out, "They keep holding on to problematic ministers, and since the ministers' policies do not change significantly, the real estate market continues to behave abnormally. It is truly a vicious cycle."

He viewed the rise in real estate prices as "not a speculative issue but fundamentally caused by a shortage of supply." Regarding the recent sharp increase in apartment jeonse prices in the Seoul area, he criticized, "Economists, who rarely agree on economic issues, unanimously agree that unnecessary regulation of the rental market causes the jeonse market to collapse."

Kwon stated, "The ruling party is proposing a jeonse price cap system, but regardless of whether it is a socialist policy or not, it is fundamentally unworkable," and argued, "We should let the market supply jeonse properties to lower prices. The biggest problem is that those handling policies now do not acknowledge the market."

Regarding Ahn Cheol-soo, leader of the People Party, proposing the formation of a new party and reorganization of the opposition, Kwon said, "It is undesirable for the opposition and the right-wing or conservative factions to be divided," but also expressed a critical stance toward "creating a new party to unite anew." He harshly criticized, "Frequently creating new parties to meet in the third zone is an old-fashioned idea lacking creativity," and added, "It does not look good for someone who should bring new political trends to repeat old patterns."

On Prosecutor General Yoon Seok-youl ranking first in the presidential candidate preference survey, Kwon said, "Minister of Justice Choo Mi-ae is entirely responsible for this." He added, "It is not appropriate to discuss whether Prosecutor General Yoon will actually enter politics now, but from the opposition's perspective, it is not necessarily a bad thing."

He said, "Even if it does not lead to a presidential candidacy, it can help unify the opposition," but added, "The downside is that our party's candidates are overshadowed." He emphasized, "Compared to Lee Nak-yeon, the Democratic Party candidate, our party's candidates are outside public opinion and interest, but once the campaign starts and activities begin, things will change."

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