Yoo Seung-min: "Moon Administration Thoroughly Failed Housing Policy... Economy Will Be a Key Presidential Election Issue" (Comprehensive)

De Facto Presidential Candidacy Declaration... Focus on Restoring the Housing Ladder

[Image source=Yonhap News]

[Asia Economy Reporters Lee Ji-eun and Lim Chun-han] Former lawmaker Yoo Seung-min stated, "The economy will be the biggest issue in this presidential election," adding, "I want to give hope that we can solve the issue of making a living much better." This is effectively a declaration of his candidacy. He also pointed out that the Moon administration thoroughly failed in its housing policy.

On the 16th, at a debate titled "Ultimately, It's the Economy? Let's Restore the Housing Ladder," held at his office 'Hope 22' in Yeouido, former lawmaker Yoo said, "The Moon administration has thoroughly failed in providing spaces where families can enjoy happiness and freedom together."

He explained, "The housing ladder is typically about ordinary people living with their parents, then moving out to a rented room, then renting monthly or jeonse (long-term deposit lease) whether they marry or not, using the deposit as seed money to buy a small apartment, having children there, moving to neighborhoods with better educational conditions, and trying to increase the size of their home. The goal of housing policy is how easily and quickly this can be achieved."

Professor Son Jae-young of Konkuk University's Department of Real Estate, who participated in the debate, also criticized, "The Three Lease Laws are a representative example of laws that make life difficult for people, but the dozens of previous measures have shaken the housing market ecosystem. In the housing market, people take years to carefully consider and make choices based on their hopes, but not all those choices are good, and policies are stigmatizing them."

Professor Lee Sang-young of Myongji University pointed out, "Most countries regulate existing tenants, but only in limited areas of large cities. There is no country that imposes regulations all at once nationwide."

Former lawmaker Yoo also effectively declared his candidacy that day. He said, "Did you watch the U.S. presidential election? Trump divided the people by ideology, class, and race and was ousted. I believe that in March 2022, the people of the Republic of Korea will issue a dismissal order for the Moon Jae-in administration and create new hope and expectations for us, and I want to go forward together with you."

Yoo expressed confidence, saying, "I am sure the economy will be the biggest issue in this presidential election. The first debate will start with real estate, and we will continue to hold debates on economic issues such as youth unemployment to show the public that we can do better."

He added, "The trigger to solve low growth, low birthrate, and polarization lies in the economy. We must show that we can do better in creating a fair and just society for all citizens."

Kim Jong-in, the Emergency Committee Chairman of the People Power Party, also attended the debate. He said, "Economic issues are the most important for people's lives and are seriously discussed every election season. Facing the turning point of COVID-19 and the Fourth Industrial Revolution, how we wisely lead will determine the future of the Republic of Korea."

Floor leader Joo Ho-young said, "During the four years of the Democratic Party administration, apartment prices in Seoul rose by 52%. If former lawmaker Yoo, the top expert in the economy, solves this problem decisively, he will receive applause from many citizens and greatly help the Seoul mayoral election next year." He added, "People who have failed before have a high chance of being elected president recently. It seems that our party has only one person (former lawmaker Yoo), so I hope he succeeds and passes."

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