Kim Jong-in: "Pre-sale as a lottery is the root of apartment speculation... Let's abolish the Housing Corporation"

People Power Party Holds Policy Meeting with Gyeongsilryeon

Kim "Government Should Step Back Once Housing Supply Reaches Certain Level"
Gyeongsilryeon "Moon Administration Was a Real Estate Speculation Regime Without Freedom and Fairness"

Kim Jong-in, Emergency Response Committee Chairman of the People Power Party [Photo by Yonhap News]

[Asia Economy Reporter Hyunju Lee] Kim Jong-in, Emergency Committee Chairman of the People Power Party, said on the 17th during his visit to the Citizens' Coalition for Economic Justice (CCEJ) located in Jongno-gu, Seoul, "Let's no longer maintain entities like the Housing Corporation."

Chairman Kim held a policy meeting with CCEJ that day and stated, "If society explodes due to real estate issues, all policies will inevitably become futile."

He said, "The government has a history of over 50 years in housing policy related to establishing and operating housing corporations," adding, "When there is a housing shortage, the government should actively participate in housing policy and supply a certain level of housing. Once the supply reaches a certain level, the government should step back and let the general market handle housing supply."

He also diagnosed, "Pre-sale has become similar to a lottery, which has fundamentally provided the basis for today's apartment speculation," and said, "We need to see how to handle this, but if CCEJ has good proposals, please let us know."

Lee Jong-bae, Policy Committee Chairman of the People Power Party, said, "I believe the essence of the Korea Land and Housing Corporation (LH) speculation is a disaster caused by the Moon Jae-in administration's overall moral laxity and failed real estate policies," and criticized, "As the facts come to light, the ruling party is shifting responsibility here and there, even blaming the previous administration and the prosecution, focusing on misleading public opinion through political scapegoating."

In response, Kwon Young-jun, Co-Representative of CCEJ, said, "Due to policy failures, housing and land prices have risen, making it difficult for ordinary people to live day by day. Now, pressuring the majority of citizens with taxes to the point they can no longer live is a failure of the Blue House and the government," adding, "The Moon administration can only be defined as a real estate speculation regime without any philosophy or strategy of freedom, fairness, or market economy from the start."

Kim Ho, Standing Executive Director of CCEJ, emphasized, "We proposed policies that are fair and neutral without vested interests to make citizens' lives comfortable," and added, "We have proposed various policies on real estate issues, chaebol reform, farmland issues, and economic welfare, and I hope these will be positively reviewed as they directly relate to the lives of the people regardless of party affiliation."

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