Park Yong-jin "Lee Jae-myung's Real Estate Policy Irrational... Has the Principle Not Been Established Yet?"

Park Yong-jin, Democratic Party of Korea lawmaker

[Asia Economy Reporter Hyunju Lee] Park Yong-jin, a presidential candidate from the ruling party and a member of the Democratic Party of Korea, criticized Gyeonggi Province Governor Lee Jae-myung's real estate policy on the 13th through his Facebook, saying, "Lee Jae-myung's real estate policy is ambiguous and not reasonable."

Park first argued that there is confusion about the concept of 'actual residence' recently mentioned by Governor Lee. He said, "Governor Lee recommended that Gyeonggi Province public officials of grade 4 or higher dispose of all houses except one. The same person suddenly mentioned the standard of actual residence and insisted that even two-home owners should be protected." He added, "Governor Lee says that a person living in Seoul buying one more house in the provinces is considered actual residence and that vacation homes are essential goods. However, when a person living in the provinces buys a house in Seoul with a jeonse (key money deposit) lease, he calls it speculation," and continued, "Seeing such confusion, I wonder if the principles of the real estate policy have not yet been established."

He also criticized Governor Lee for only 'talking' about creating 'basic housing' for the homeless. Park said, "The basic housing project has not even properly identified the site for the pilot project yet," adding, "They have only drawn a blueprint of what they plan to do, built model houses for promotion, but the substance remains vague."

Park further emphasized, "Housing policy should be based on the principle of pursuing an 'uplift effect,' not a 'trickle-down effect.' Even if imposing comprehensive real estate tax on high-priced houses stabilizes housing prices, it does not solve the housing problems of young people working part-time at convenience stores, delivery workers, or people in their 50s and 60s living in goshiwons (small rooms for rent)." He stressed, "Taxes should be set from the perspective of tax justice, and housing problems cannot be solved by making expensive houses cheaper from the top through taxes. Water must be filled from the bottom up."

Park proposed relocating Gimpo Airport to supply a large-scale housing supply. He said, "By developing the site of Gimpo Airport, which is more than ten times the size of Yeouido, it is possible to supply 200,000 houses in the Seoul metropolitan area. Real estate should be supplied where the people want to live and at an affordable cost."

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