Yoo Seung-min: "Moon Administration's Real Estate Statistics Are Also Cooked... It's Absurd"

[Asia Economy Reporter Naju-seok] Yoo Seung-min, a presidential candidate from the People Power Party, raised suspicions of "cooking the books" regarding the government's real estate statistics. Yoo promised to "correct the real estate statistics first."

On the 19th, Yoo mentioned the discrepancy between the official government statistics from the Korea Real Estate Board and the KB Kookmin Bank statistics through social media (SNS), pointing out problems with real estate price statistics. Regarding Seoul apartment prices in the second half of last year, the Korea Real Estate Board announced a 2.50% increase, whereas KB Kookmin Bank analyzed a 10.19% increase, showing about a fourfold difference in the rate of increase between the two statistics.

Former lawmaker Yoo Seung-min. Photo by Dongju Yoon doso7@

In this regard, he stated, "It is a fact known to all citizens that apartment prices skyrocketed during the Moon Jae-in administration," and criticized, "The national official statistics, the ‘Real Estate Board Housing Price Statistics,’ seriously distort reality."

Yoo criticized, "In a situation where the national statistics, which are the starting point of real estate policy, are so unstable, policies based on those statistics cannot be properly made."

He pointed out, "After pushing ‘income-led growth (Soju-seong)’ through cooked income distribution statistics, now they are cooking the real estate statistics again," adding, "It is truly absurd."

Yoo said, "The government cooked the statistics to hide its mistakes and made wrong policies based on those incorrect statistics," and added, "This could not happen without disregarding the people."

Regarding this, he emphasized, "We must immediately disclose the ‘raw data entered for index calculation’ to verify why such unrealistic and poor statistics are produced," and pointed out, "Only an honest government can create proper solutions and solve problems."

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