Yoon Seok-yeol Focuses on 'Real Estate Issues', Meets Brokers Saying "Flawed Lease 3 Laws Cause Great Suffering to Ordinary People"

Former Prime Minister Yoon visited a real estate agency located in Dobong-gu, Seoul, on the morning of the 13th and met with Bang Jin-gi, head of the Dobong branch of the Real Estate Agents Association, to discuss real estate issues such as the surge in jeonse prices and the jeonse crisis.
/Photo by Yoon Seok-yeol's Press Office

[Asia Economy Reporter Junyi Park] Former Prosecutor General Yoon Seok-yeol, who is on a public opinion listening tour, is intensifying his efforts to formulate real estate policies by meeting with real estate experts day after day. Following a meeting with Kim Heon-dong, Head of the Real Estate Construction Reform Division at the Citizens' Coalition for Economic Justice, on the 11th, he met with Bang Jin-gi, President of the Dobong Branch of the Realtors Association, on the 13th to point out problems with the Moon Jae-in administration's real estate policies and discuss alternatives.

On the morning of the same day, Yoon visited a real estate agency located in Dobong-gu, Seoul, and heard from President Bang about pressing real estate issues such as the surge in jeonse prices and the jeonse crisis. This visit was part of the public opinion listening campaign "Yoon Seok-yeol Listens," and Dobong-gu is one of the districts in Seoul where prices have risen the most among autonomous districts. According to the monthly apartment price statistics from KB Real Estate Live On, the average apartment sale price per 3.3㎡ in Dobong-gu increased by 41.3% in one year.

On this day, Yoon told President Bang, "The suffering endured by ordinary citizens due to the misguided regulations of the three lease laws (the amended Housing Lease Protection Act and the amended Act on Reporting Real Estate Transactions) is too great," highlighting the side effects of the current government's failed real estate policies.

In response, President Bang said, "In the past year, jeonse prices have risen by 100 million KRW, and sale prices by 150 million KRW," adding, "The causes of the rapid increase in real estate prices can be attributed to the right to request contract renewal under the three lease laws and the housing lease reporting system that started on the 1st of last month." He further explained, "This has also led to serious conflicts between landlords and tenants."

Yoon also stated, "Every time a new real estate policy is introduced, the confusion among ordinary citizens intensifies, and the fact that they have to leave the places where they want to live undermines trust in government policies." He added, "Policies must carefully examine complex issues and be meticulously designed, but this will be a representative case where good intentions alone do not yield the expected results."

The real estate issue is expected to become one of the core policy plans of former Prosecutor General Yoon. At his political participation declaration ceremony on the 29th of last month, he expressed interest in housing issues by stating, "There is a need to comprehensively review the comprehensive real estate tax."

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