"Election Promises of Both Major Parties Promote Speculation"…Justice Party's Nationwide Tour to Dismantle the Speculation Republic

30th, Justice Party Nationwide Tour Kickoff Rally to Dismantle Speculation Republic
Yeoyoungguk "Two-Party Election Campaigns Further Encourage Speculation"
Kangeunmi "By-Election is a 'Real Estate Speculation Judgment Election'"
Simsangjeong Demands Strong Measures to Recover Unearned Income

[Asia Economy Reporter Oh Ju-yeon] The Justice Party has embarked on a nationwide tour to dismantle the real estate speculation republic. In particular, it criticized the election pledges of the Seoul mayoral candidates from the Democratic Party of Korea and the People Power Party as encouraging real estate speculation, and declared that it would take the lead in breaking the vicious cycle of accumulating and inheriting wealth through real estate.

On the 30th, Justice Party leader Yeo Young-guk held a kickoff rally for the nationwide tour to dismantle the speculation republic in front of the National Assembly main building, saying, "We will meet citizens across the country who are angry at the vested interests' speculative games, unite their voices, and surely create an opportunity to wash away the stigma of the speculation republic."

Leader Yeo pointed out, "The anger of ordinary people is not only directed at the LH employees who speculated. Behind the housing supply rate exceeding 100% lies a confrontation between the increasing number of multi-homeowners every year and the 9 million citizens still suffering from being homeless," adding, "The real estate speculation republic is a 'country of vested interests' built on the 'housing tragedy' of homeless commoners."

He also pointed out that the election campaigns by the Democratic Party of Korea and the People Power Party further encourage speculation.

Leader Yeo said, "'Who owns what real estate where? Therefore, they should not be elected.' This is the election campaign conducted by the two vested-interest parties," and criticized, "They say they will throw housing policy into the jungle called the market. They plan to relax or lift floor height restrictions and cut taxes, and ease reconstruction regulations. It is only nominally public-led redevelopment and reconstruction, but in substance, it is a relaxation of various regulations, which actually encourages speculation more than the government's 2.4 housing supply plan."

He continued, "While guaranteeing profits for speculators, there is no space for public rental housing for homeless commoners," and said, "As the candidates of the Democratic Party and the People Power Party promise vested interests' speculation, Seoul's housing prices are fluctuating wildly, and the anxiety of homeless commoners is growing."

Leader Yeo questioned, "Do we fully hear their words of 'eradicating speculation' when the election pledges of the two major parties encourage real estate speculation?" He emphasized, "What is the reason the Public Officials Conflict of Interest Prevention Act, which includes members of the National Assembly as subjects, has been drifting in the National Assembly for nearly 10 years? Why do members of the National Assembly still repeatedly delegate their standing committee positions due to involvement in special favors and solicitations? Why do suspicions arise that members of the National Assembly have attempted to unfairly appropriate private interests in their constituencies? The Democratic Party and the People Power Party must answer the people and take responsibility."

Floor leader Kang Eun-mi said, "The upcoming April 7 by-election is nothing less than a 'real estate speculation judgment election,'" and harshly criticized, "Policy has disappeared, and people's livelihoods have disappeared. The election has become a battleground for real estate speculation, and the candidates running are by no means free from suspicion. It is disheartening."

She added, "Taking this by-election as an opportunity, we will break the myth of real estate invincibility in our society, including public officials, and build a just and dignified welfare state for all where the justice of sweat overcomes the injustice of land."

Assembly member Shim Sang-jung, chair of the Justice Party's Special Committee to Dismantle the Real Estate Speculation Republic, said that three fundamental measures must be taken to dismantle the real estate speculation republic, and that the lax moral standards of Blue House aides and high-ranking public officials handling real estate policy must be thoroughly reviewed.

Assembly member Shim said, "Members of the National Assembly, all elected public officials, and public officials related to real estate must adhere to the one household, one house principle, and the Public Officials Ethics Act containing real estate trust provisions must be enacted this time."

She also called for strong measures to recover unearned income. Assembly member Shim said, "Especially, companies' non-business-use land remains untouched," and added, "Tax policies that boldly recover land unearned income based on the concept of land, such as raising comprehensive real estate tax and reviving the land tax, are necessary."

Finally, she urged, "Areas developed as public land must be supplied solely as multi-family housing to establish a housing security measure for homeless commoners," and "I hope this principle is strictly applied starting from the 3rd new town."

In the afternoon of the same day, a joint press conference by the Justice Party and civil society was also held to urge the enactment of the Public Officials Conflict of Interest Prevention Act and the revision of the National Assembly Act to eradicate speculation by public officials.

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