Hyun-Joo Park, Chairman of Mirae Asset, "Don't Be Too Optimistic About Real Estate"

[Asia Economy Reporter Song Hwajeong] Park Hyun-joo, Chairman of Mirae Asset Financial Group, advised that one should not be overly optimistic about real estate and that investors holding real estate should diversify their assets.

Chairman Park made this statement in the video "Real Estate as Seen by Chairman Park Hyun-joo," released on the Mirae Asset Daewoo YouTube channel "Smart Money" on the 3rd.

Chairman Park said, "Those who are real estate wealthy now may not be wealthy after some time, and such risks are significantly increasing," adding, "You should not be overly optimistic about real estate. Data centers or logistics centers can be much more stable."

He especially emphasized not to overlook tax issues. Chairman Park said, "As wealth polarization intensifies, taxes will continuously rise," and added, "Ignoring the tax burden is a very risky thought."

Regarding the government's real estate policy, Chairman Park pointed out, "Historically, it is a strong level policy, but society has not yet accepted it."

On real estate supply, Chairman Park said, "Instead of creating a park in Yongsan, housing supply should be provided," and added, "Many 15 to 20-pyeong apartments should be built in the city center." He also emphasized regional balance. "Universities and hospitals are concentrated in Seoul, so this infrastructure should be dispersed to resolve the concentration in Seoul," he explained, adding, "If universities and hospitals are dispersed to local areas and only 20 foreign schools are established, housing prices can be controlled."

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