Kim Ki-hyun "House Price Stability Without Private Capital, A Dreamlike Story"

Kim Ki-hyun, Acting Leader of the People Power Party
"People in their 20s and 30s cannot buy houses in the current situation"
"To lower house prices, supply must come first, and private capital is needed for this"

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

[Asia Economy Reporter Naju-seok] "Trying to stabilize housing prices with only public capital and no private capital is a dream."

Kim Ki-hyun, Acting Party Leader and Floor Leader of the People Power Party, criticized the government and ruling party's housing price stabilization measures with these words in an interview held at the National Assembly Floor Leader's office.

Acting Leader Kim said, "If housing prices plummet, there will be a panic, but if the current situation continues, how can people in their 20s and 30s without inherited assets possibly buy a house?" He pointed out the problems of the current government's real estate policy using expressions such as 'a lifelong regret.' Kim added, "Even if the ratio is low, housing prices should move in a downward direction," and "To do that, housing supply must be increased, and for that, private capital is necessary."

He also expressed that loss compensation measures, discussed as part of COVID-19 countermeasures, should be implemented promptly. Acting Leader Kim said, "Compensation for losses to small business owners should come first, rather than the nationwide disaster relief fund currently being considered by the ruling party." He further explained, "It is natural for the state to compensate those who comply with administrative orders issued by the government."

Regarding the payment of disaster relief funds, he withheld an immediate response but pointed out the rapid increase in government debt. Kim said, "Among OECD member countries that are not currency-issuing nations, South Korea ranks sixth in the fastest debt growth rate," and added, "If supplementary budgets are to be made, shouldn't they come and report to the opposition? Bypassing the opposition has become habitual."

Despite ongoing issues between the ruling and opposition parties, such as the distribution of the chairmanship of the Legislation and Judiciary Committee, he proposed a two-track strategy for National Assembly operations. Acting Leader Kim said, "Although there were repeated disruptions last time, we processed all 99 bills in the plenary session," and added, "We will cooperate on bills related to people's livelihoods, but we will never tolerate political issues or absurd matters, implementing a two-track strategy."

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