Won Hee-ryong: "Jongbu Tax Bomb Means Telling People to Leave Their Homes Quickly"

"A Government That Sees Owning a Home as a 'Crime'"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Won Hee-ryong, Governor of Jeju, stated on the 24th, "The feared 'comprehensive real estate tax bomb' has dropped. This is not simply a matter of paying more or less tax," adding, "It increases housing instability."

On the same day, Governor Won said on Facebook, "This bomb is causing tremendous damage even to single-home households," and criticized, "Lee Nak-yeon, leader of the Democratic Party of Korea, promised a 'reasonable adjustment of the comprehensive real estate tax for single-home households' during the last general election. It turned out to be empty words."

Governor Won pointed out, "Despite numerous objections, when the Lease Protection Act was pushed through, it was justified as a measure to enhance housing stability, but on the other hand, the comprehensive real estate tax bomb is increasing housing instability," adding, "The comprehensive real estate tax is like rent paid to the state. With state rent unpredictably soaring, housing insecurity is severe. This is a prime example of inconsistent policy."

He further stated, "The comprehensive real estate tax bomb can only be explained as telling those who cannot afford to pay rent to the state to quickly leave their homes," and questioned, "What kind of government drives its own citizens out of their homes?"

Governor Won said, "The government caused housing prices to skyrocket due to policy failures, then, with its conviction, raised the official property prices and dropped a tax bomb," describing it as "like receiving a 'fine notice' from a government that views owning a home as a 'crime.'"

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