청 Policy Chief: "Maintaining Consistency in Housing Policy Is Crucial at This Time"

Lee Ho-seung, Blue House Policy Chief, on Criticism of 'Real Estate Policy' Failure: "I Know Many People Are Disappointed and Facing Difficulties"

[Asia Economy Reporter Ryu Jeong-min] Lee Ho-seung, Chief of Policy at the Blue House, stated during a briefing at the Chuncheon Press Center on the afternoon of the 1st, "It is an important time to maintain consistency in the current housing policy." This remark contrasts with the message from the Democratic Party of Korea, which expressed willingness to supplement the real estate policy where necessary.

Lee said, "We are well aware that the public is very disappointed and facing difficulties regarding real estate policy. This is not a phenomenon unique to Korea. Globally, a lot of liquidity has been released, causing asset prices to diverge from real values."

He added, "The real estate market involves very diverse individual positions related to real estate. The government's efforts to stabilize the market may sometimes appear excessively strong."

[Image source=Yonhap News]

Lee stated, "What pains the government is that the housing market has been showing quite stable signs since mid-February. The rate of increase in sales prices and jeonse prices is falling," and continued, "although there are various proposals, regardless of them, it is time for the central government, local governments, and basic local governments to unite their efforts to increase supply and stabilize the market."

When asked whether he agrees with the claim that the real estate policy has failed, Lee responded, "It is complex for the policy official to say whether the real estate policy is a success or failure." He hesitated before answering the question directly. While the ruling party is showing moves conscious of public criticism of the real estate policy, the Blue House has remained reserved on the matter.

Earlier, Kim Tae-nyeon, Acting Leader and Floor Leader of the Democratic Party of Korea, stated in a press release on the same day, "Reform was powerless in the face of skyrocketing housing prices and the myth of real estate invincibility. The feelings of the younger generation were not properly understood."

Kim appealed, "We will promptly prepare measures to supplement the real estate policy where necessary," adding, "We must not revive the construction speculation forces that try to raise housing prices due to anger over skyrocketing prices and speculation."

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