Naegok-dong Scandal vs Real Estate Failure... An Election Asking 'Which Is More Disliked?'

Park Young-sun and Oh Se-hoon Suspend Campaign Schedules
Intensify Preparations for Final TV Debate
Likely to Rally Supporters

[Asia Economy Reporter Naju-seok] With just two days left until the Seoul mayoral by-election, the race is ultimately turning into a contest asking citizens which they dislike more: the ‘Naegok-dong scandal’ or the ‘failure of real estate policy.’

[Image source=Yonhap News]

On the morning of the 5th, Park Young-sun, the Democratic Party candidate, and Oh Se-hoon, the People Power Party candidate, suspended their campaign schedules to fully prepare for the final TV debate held that afternoon. In the debate, Park plans to tighten her offensive on Oh’s ‘Naegok-dong self-compensation’ allegations. Meanwhile, Oh aims to persuade citizens with the argument that replacing the Seoul mayor is necessary to judge the current government’s real estate failures.

After the TV debate, Park will focus her campaign on the southwestern region, traditionally a stronghold of Democratic Party support. Oh will attempt to rally his base in the final stretch with a route reminiscent of a ‘smile emoticon.’

That morning, the leadership of both parties also clashed fiercely over the Naegok-dong and real estate issues. Lee Nak-yeon, co-chairman of the joint campaign committee, emphasized, "The pledges made by the opposition’s Seoul mayoral candidate are highly likely to bring back a speculative frenzy," adding, "The party with the determination and policy stance to properly resolve the real estate issue is also the Democratic Party." Kim Tae-nyeon, acting leader and floor leader of the Democratic Party, criticized, "We must not revive the original speculative forces out of anger over real estate."

Kim Jong-in, emergency committee chairman of the People Power Party, indirectly referred to this election as a judgment on the current government’s real estate policy by asking, "If, as Policy Chief Lee Ho-seung said, the rise in housing prices was inevitable due to the large amount of money released and low interest rates, then why were taxes raised so much and official property prices increased 25 times under the pretext of preventing speculation?"

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