'Youth All-In', 'Apartment Boom'... Kim Hyun-mi's Remarks... Common People 'Frustrated'

"If an apartment were bread, I would stay up all night to make it"
"It's unfortunate that people in their 30s are 'yeongkkeul' buying"
"You can buy a house like ours with a Didimdol loan"

Minister of Land, Infrastructure and Transport Kim Hyun-mi visited a purchased rental housing located in Eunpyeong-gu on the 22nd of last month, completed an on-site inspection, and delivered a greeting.
[Image source=Yonhap News]

[Asia Economy Reporter Han Seung-gon] On the 30th, Kim Hyun-mi, Minister of Land, Infrastructure and Transport (MOLIT), compared apartments to 'bread' and rebutted criticisms of real estate policy failures, sparking ongoing criticism mainly from opposition parties and online real estate cafes. The opposition mocked her with remarks like "Are you Marie 'Bread'toinette?" This criticism implies a lack of empathy for the suffering of ordinary people caused by the jeonse crisis and soaring housing prices.

Previously, Minister Kim stirred controversy by stating that an apartment in Ilsan, Goyang City, Gyeonggi Province, where she resides, could be bought for 500 million won. Earlier, she also expressed regret over young people buying homes by 'Yeongkkeul' (a term meaning gathering money by pulling together all their resources, even their soul), which drew criticism for being a 'disconnected rhetoric.'

At the National Assembly Land, Infrastructure and Transport Committee's current issues inquiry held that day, when Kim Gyo-heung, a member of the Democratic Party of Korea, asked why there is a shortage of apartment supply in the jeonse measures, Minister Kim said, "Apartments take a long time to construct, so it is difficult to prepare them immediately," and added, "We plan to secure villas and other types of housing to supply quality rental housing instead of apartments."

The controversial 'bread' remark came in her subsequent statement. Minister Kim said, "If apartments are bread, I will stay up all night to make them." Although this expressed her frustration over the shortage of apartment supply, opposition parties and real estate cafe communities criticized the analogy of the pain and sorrow of the homeless to 'bread' as inappropriate.

Former People Power Party lawmaker Yoo Seung-min wrote on his Facebook that day, "Who told the government to make apartments directly? The government is not a construction company," and pointed out, "The government is not the place that builds apartments but the place that makes apartment policies."

He continued, "The (real estate) policies have failed, causing insane housing prices and a crazy jeonse and monthly rent crisis, cutting off the ladder to homeownership," adding, "This thoroughly incompetent government failed in apartment policies and now refuses to admit policy failure, blaming innocent apartments by saying they are not bread, which again upsets the public." He then asked, "Are you only now realizing that apartments cannot be built in a day?"

He went on, "This government's apartment policy is all about 'public' whenever they open their mouths," and said, "In the minds of these government people, apartments are public, meaning the government builds them." He added, "That's why you get remarks like Marie 'Bread'toinette."

Minister of Land, Infrastructure and Transport Kim Hyun-mi is deep in thought at the plenary meeting of the Land, Infrastructure and Transport Committee held on the 30th.
[Image source=Yonhap News]

Professor Kim Geun-sik, head of the Songpa-byeong district party committee in Seoul, also criticized Minister Kim on his Facebook that day, calling it "Marie Antoinette's 'let them eat cake' moment, season 2," and said it was the same perception as Democratic Party lawmaker Jin Sun-mi's call to "escape the apartment fantasy." He remarked, "In the end, Antoinette met a tragic end at the guillotine."

This is not the first controversy surrounding Minister Kim's remarks. At the full meeting of the National Assembly Budget and Accounts Special Committee held on the 10th of last month, when opposition lawmakers pointed out that the limit on Didimdol loans was low compared to the expensive apartment prices in the metropolitan area, Minister Kim responded, "There are apartments under 500 million won in the metropolitan area," and said, "You can buy a place like my house with a Didimdol loan." However, the price of the apartment owned by Minister Kim has recently approached 600 million won.

On the 11th, the day after Minister Kim's remarks, the residents' association composed of residents of her apartment issued a statement saying, "How can you be the Minister of Land, Infrastructure and Transport without knowing the market price of your own house? You hurt the feelings of the residents," and called for an apology. The residents said, "If it's that cheap as the minister said, why is Ilsan a regulated area?" and added, "It was very inappropriate to mention the price of her own house at the full meeting of the National Assembly Budget and Accounts Special Committee."

Additionally, on August 25th, Minister Kim faced criticism from people in their 20s and 30s over her so-called 'Yeongkkeul' remark. At the National Assembly Land, Infrastructure and Transport Committee meeting held that day, Minister Kim said, "I feel sorry that people in their 30s bought properties by 'Yeongkkeul' from multi-homeowners and corporations."

However, the opposition criticized this remark as a 'disconnected rhetoric' that only expressed pity. They also accused her of ignoring the reality that it is difficult for people in their 20s and 30s with low subscription points to buy homes through the relevant system.

Minister of Land, Infrastructure and Transport Kim Hyun-mi is inspecting the interior of a purchased rental housing located in Eunpyeong-gu on the 22nd of last month. / Photo by Yonhap News

Meanwhile, criticism continues over Minister Kim's consecutive remarks such as "If apartments are bread, I will supply them overnight," "I feel sorry for the young people's Yeongkkeul situation," and "You can buy a place like my house with a Didimdol loan." One netizen expressed regret, saying, "If you lack ability, you should listen well to your aides' opinions, but it doesn't seem like that's happening."

Kim, a company employee in his 30s, lamented, "Real estate measures have failed or faced difficulties under all past governments, not just this one, but this government keeps saying 'it's going well,' which frustrates the market." He added, "If communication is going to be like this, it would be better to just stay silent."

Another office worker in his 40s, Park, said, "'Apartment bread' remarks inevitably feel like they disregard the suffering of ordinary people," and urged, "As a minister, I hope you consider the impact of your words carefully and act prudently."

Meanwhile, Minister Kim hinted that the government could designate speculative overheating zones or regulated areas, which are regulatory districts for stabilizing the housing market, not only at the city, county, and district levels but also at the town, township, and neighborhood levels.

When questioned about this during the MOLIT current issues report on the 30th, Minister Kim said, "I understand that the bill has already passed the MOLIT committee subcommittee," and added, "I think it will be implemented accordingly." She also said, "Currently, although not sufficient, housing market surveys are being conducted at the neighborhood level."

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