Yun Hojung: "LTV and DTI Regulations Will Be Adjusted to Meet Public Expectations"

Yoon Ho-jung, floor leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 14th and delivering a speech. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Koo Chae-eun] On the 17th, Yoon Ho-jung, the floor leader of the Democratic Party of Korea, stated, "Since real estate tax systems and LTV (Loan-to-Value ratio), DTI (Debt-to-Income ratio) loan regulations have a significant impact on the market, we will carefully review them and adjust policies to meet the public's expectations to prepare a comprehensive plan."

At the Supreme Council meeting held at the National Assembly that day, Floor Leader Yoon said, "We will firmly support policies to eradicate real estate speculation and expand supply," adding, "We will supplement real estate legislation and policies centered on the Real Estate Special Committee. We will prepare a comprehensive plan including legislation to eradicate speculation and adjustments to real estate policies."

Yoon also said, "The legislation of COVID-19 loss compensation can no longer be delayed. Many small business owners are struggling to the point of considering closure," and added, "To prevent small business owners and self-employed, who are the foundation of the real economy, from going bankrupt, we must accelerate legislation on the COVID-19 loss compensation system for self-employed people facing survival crises."

He continued, "Today, the Industry, Trade, Energy, Small and Medium Venture Business Committee (SanJaWi) plans to adopt a legislative hearing plan for the loss compensation law," and said, "Once this plan is adopted, we will listen to the voices of the self-employed parties, comprehensively collect opinions from the government and experts in the relevant fields, and promptly prepare support measures for small business owners and the self-employed."

Floor Leader Yoon stated, "Through the K-New Deal economic innovation, we will create job results that the public can feel. It is a national project investing 160 trillion won by 2025 to create 1.9 million jobs," and added, "Based on bold regulatory reforms, we will promptly process economic innovation legislation to enhance industrial competitiveness. We will create good jobs and gather the party and floor capabilities to prepare measures for the youth."

He said, "There is a mountain of legislation to take care of the people. These are bills proposed by all 300 members of the National Assembly from both ruling and opposition parties for the country and the people," and added, "It is the duty of our lawmakers to promptly review these bills. We hope the People Power Party, which insists only on the chairman of the Legislation and Judiciary Committee, obstructs state affairs, neglects people's livelihood, refuses personnel hearings, and rejects standing committees, will come to the National Assembly quickly to work for overcoming national crises and restoring people's livelihood."

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