Park Young-sun Proposes 'Three Major Measures to Eradicate Real Estate Speculation' to Government Including Full Survey of 3rd Phase New Towns

"Urgent Call for a Complete Survey of Landowners in 3rd New Towns and Large-scale Housing Development Sites"
"The National Assembly Must Immediately Pass the Conflict of Interest Prevention Act and Real Estate Transaction Act"
"Proposed Establishment of a 'Land and Housing Reform Committee' Directly Under the President"

[Asia Economy Reporter Oh Ju-yeon] Park Young-sun, the Democratic Party of Korea's candidate for Seoul mayor, held a press conference on the 28th at Anguk Building in Jongno-gu, Seoul, to once again urge the party and government to implement measures to eradicate real estate speculation.

Candidate Park said, "I heard that President Moon Jae-in urgently convened the 'Fair Society Anti-Corruption Policy Council' to clear out real estate corruption," adding, "In this regard, I strongly reiterate the three proposals I made to the party and government on March 14: ▲a full survey of landowners in the planned development areas of the 3rd New Towns and large-scale housing development areas, ▲immediate passage of the Conflict of Interest Prevention Act and Real Estate Transaction Act, and ▲establishment of a presidential advisory '(tentative name) Land and Housing Reform Committee.'"

She continued, "According to recent reports, the National Police Agency's National Investigation Headquarters is investigating or conducting preliminary inquiries into 89 cases involving 398 people suspected of real estate speculation, including 3 members of the National Assembly and 19 city and provincial council members," and urged, "I hope thorough investigations will be conducted promptly in response to the public's demand for swift investigation and punishment."

Park Young-sun, the Democratic Party of Korea's candidate for Seoul mayor, is giving a greeting speech at the 'Park Young-sun Seoul Mayor Candidate Supporters' Office Opening Ceremony' held on the afternoon of the 28th at Dongduk Building in Gwanhun-dong, Jongno-gu, Seoul. Photo by the National Assembly Press Photographers Group

She also stated, "The market capitalization of real estate in our country reaches 1,330 trillion won, but the top 10% of the population by land ownership holds 96% of the land area. Although the housing supply rate per household is 105%, the homeownership rate is only 56%," emphasizing, "Through the presidential advisory 'Land and Housing Reform Committee,' we must diagnose the realities of land and housing in our country and create a society where sweat, not land, is rewarded."

Candidate Park also addressed the Democratic Party, saying, "After the LH speculation scandal, the Democratic Party conducted a full survey of real estate ownership by its members of the National Assembly and their immediate family members," and requested, "Please transparently disclose the survey results and, in cases of speculation or abnormal transactions, immediately sell the properties and return all profits to society."

Regarding real estate policy, Candidate Park also promised ▲an investigation into real estate holdings of all Seoul city officials and employees of affiliated public institutions, including themselves, spouses, and immediate family members, immediately after taking office ▲prior reporting of all their real estate transactions ▲and the establishment of the Seoul Real Estate Supervisory Agency.

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