Song Young-gil: "Real Estate Capital Gains Tax and LTV Easing Will Be Harmonized with Housing Price Stability"

Song Young-gil, the newly appointed leader of the Democratic Party of Korea, is holding his first press conference after taking office at the National Assembly on the 3rd. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Koo Chae-eun] Song Young-gil, leader of the Democratic Party of Korea, hinted on the 12th that he would present measures related to real estate capital gains tax and easing LTV restrictions for actual buyers.

In his opening remarks at the Real Estate Special Committee on the same day, Leader Song said, "We will closely discuss tax issues, and we see property tax and capital gains tax as urgent matters." He added, "We will review measures to ensure that easing LTV restrictions for actual buyers can be harmonized with housing price stabilization."

He stated, "We will ensure that the government's 2·4 supply plan is supported without any setbacks," and "At the same time, we will closely discuss the realization of official land prices, housing price increases, and tax issues."

Leader Song emphasized, "President Moon Jae-in also mentioned the importance of measures for actual buyers during a luncheon meeting," and "The LTV easing I mentioned during the election process will also be harmonized with housing price stabilization."

Regarding the appointment of Assemblyman Kim Jin-pyo as chairman of the Real Estate Special Committee, he said, "He is an experienced expert who first drafted the comprehensive real estate tax bill, has expertise in taxation, and served as Deputy Prime Minister." Leader Song added, "The best aces will gather in the Real Estate Special Committee to pool their wisdom so that the Democratic Party government can be a competent government."

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