Yeo and Park Wan-joo: "Real Estate Policy to Be Finalized Within This Week"

Various Intra-Party Proposals Discussed on Comprehensive Real Estate Tax and Capital Gains Tax
Supplementary Budget Size and Method Not Yet Decided

Park Wan-joo, Chairman of the Policy Committee of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 15th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jeon Jinyoung] Park Wanju, the Policy Committee Chair of the Democratic Party of Korea, stated on the 15th regarding the real estate policy being promoted, "The principle is to finalize it within this week."

At a meeting with reporters on the same day, Chair Park said, "The goal is to finalize the party's stance on real estate-related matters within this week."

He added, "The real estate policy members' meeting is scheduled to be held on Wednesday after the party leader's negotiation group speech," emphasizing, "It is inappropriate to say there is internal conflict within the party regarding comprehensive real estate tax and capital gains tax issues. There are various proposals."

He continued, "Until recently, the floor leader's office publicly collected opinions from lawmakers related to real estate policy," and said, "There are political groups that have expressed both support and opposition. Since all are opinions within the party, I believe discussions will include all these aspects. This is not a binary opposition structure such as special committee proposals, leadership proposals, or general lawmakers' proposals," he added.

Regarding the supplementary budget bill (추경) for the second disaster relief fund payment, he explained, "Discussions will continue on the scale, method, and timing," and said, "There has not yet been a concrete discussion on the scale, such as whether 40% of additional tax revenue will be fully allocated to local governments or how much will be used for debt repayment."

On the bills to be processed, he said, "The current priority bills are the real estate law, the Serious Accident Punishment Act, and the Loss Compensation Act," adding, "In the June National Assembly, there are about 60 bills agreed upon by the party, government, and 청 (Cheong), including the Surgical Room CCTV installation law."

However, regarding the Anti-Discrimination Act, which recently surpassed 100,000 signatures in the national consent petition, he said, "It does not seem to be something to be processed immediately," and added, "Once the current pending bills are somewhat settled, we will prepare and propose the Policy Committee's opinion on how to handle it at the high-level strategy meeting in June and discuss it."

Regarding the party's discussion on virtual assets, he responded, "If the Supreme Council meets within this week, we have decided to form a task force (TF) to discuss with lawmakers related to the Political Affairs Committee," and said, "Senior Deputy Chair Yoo Dongsu will lead and start the discussions."

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