Kim Ki-hyun: "Stabilizing House Prices is Irresponsible... Should Lower Gradually"

Interview with Kim Ki-hyun, Acting Party Leader and Floor Leader of the People Power Party
"Compensation for losses must be immediate; small business owners merely complied with government orders"

Kim Ki-hyun, Acting Leader of the People Power Party. / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Naju-seok] "I was angry when I heard the words about stabilizing house prices. Isn't it a story telling people to live in despair for their whole lives? It means to live as is because it won't recover anyway. With what skill can one earn a salary and buy a 1 billion won house?"

On the 1st, Kim Ki-hyun, Acting Party Leader and Floor Leader of the People Power Party, said in an interview with Asia Economy, "Housing prices should be gradually lowered." Kim said, "For the common people and youth without houses, policies should be combined to supply higher quality housing using public capital than now."

Kim added, "We must not only prevent house prices from rising further but also lower them," and said, "There was experience of lowering house prices during the MB (Lee Myung-bak administration) government." He emphasized, "To do that, housing supply must be ensured, and the government's and ruling party's plan to do it only with public funds without private capital is a dream-like story."

The People Power Party recently announced real estate measures focusing on easing loan regulations for non-homeowners who are actual buyers and reducing taxes for homeowners. Regarding this, Kim pointed out problems in the official price assessment, saying, "It violates the principle of legality in taxation." He said, "Taxation and loans are not fundamental measures," and stressed the need for activating housing supply, adding, "We will present comprehensive real estate measures later."

Regarding recent issues such as loss compensation for small business owners, he said, "Compensation must be made immediately," and added, "It is natural for the state to compensate those who complied with administrative orders from the state." Kim introduced that during a luncheon meeting at the Blue House on the 26th of last month, he told President Moon Jae-in, "This is an issue that the president must decide on." President Moon replied, "It is an issue that the ruling and opposition parties should discuss well and resolve," and Kim criticized, "NATO (No Action Talk Only), just talk but never act."

Regarding the nationwide disaster relief fund being considered by the Democratic Party and others, he said, "The ruling party seems very desperate," and criticized, "They try to solve the people's anger with money." About the disaster relief payment, he said, "There has never been any contact explaining who will receive how much and what the effects will be," and pointed out, "After doing this, they ask the opposition party to cooperate. They are habitual in bypassing the opposition."

Regarding former Prosecutor General Yoon Seok-youl, who is expected to join the People Power Party, he said, "I think he is a very good talent," and added, "I have a firm belief that we must make him a candidate of the opposition, whether through opposition unity or candidate unification, and fight the presidential election." About the timing of joining, he said, "Because various political and unpredictable situations are unfolding, we cannot say that earlier is better and later is worse," and added, "The big picture direction and what process will create the most dramatic effect are important to us."

It has been just over a month since Kim was elected floor leader on April 30. He self-evaluated, "There have been achievements in that the party has stabilized internally and gathered public support," and said, "It is not simply a matter of support rate differences shown in polls, but if you go around, you can feel that potential."

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