People Power Party's On-Site Real Estate Visit... Kim Jong-in: "Lease 3 Laws Cause Complex Issues"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] On the 26th, the People Power Party visited the Housing Lease Dispute Mediation Committee to assess the actual situation of the "Jeonse and monthly rent crisis" caused by the Democratic Party's forced enactment of the Three Lease Laws.

Kim Jong-in, the emergency committee chairman of the People Power Party, said at the Housing Lease Dispute Mediation Committee located in Seocho-gu, Seoul, in the afternoon, "The government has announced real estate measures 24 times, but the situation has become more complicated and serious," adding, "Recently, by creating the Three Lease Laws, it has caused complicated problems for tenants and landlords, which I think increases the potential for disputes."

Chairman Kim said, "Every time the government announces a policy, it fails to achieve results. People who want to own or lease houses do not know how to navigate the situation," and added, "After the Lease Protection Act was established, I visited to thoroughly understand what role the Housing Lease Dispute Mediation Committee is playing."

Lee Jong-bae, the policy chief of the People Power Party, said, "Since the implementation of the Three Lease Laws, there has been a significant increase in consultations related to the end of contract renewals. It seems there will be many disputes between tenants and landlords regarding renewals in the future," and added, "Not all consultations directly lead to mediation applications. I think this is something we need to continuously observe."

Lee also said, "After the Democratic Party unilaterally passed the Three Lease Laws, there has been a lot of confusion. Jeonse prices have soared, and the supply of Jeonse has drastically decreased, making it difficult for people to secure Jeonse," and added, "It would be good if this could be addressed and supplemented through policy measures in the National Assembly."

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