Basic Income Party's Yong Hye-in: "Passing of the Comprehensive Real Estate Tax Act Amendment Makes Speculators Confident 'If They Hold Out, They Win'"

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jin-young] Regarding the passage of the Comprehensive Real Estate Tax Act amendment, which includes raising the tax base from the existing 900 million KRW to 1.1 billion KRW, Yong Hye-in, a lawmaker from the Basic Income Party, criticized on the 19th, “Through this easing of the comprehensive real estate tax, speculative forces must have gained the confidence that ‘enduring means winning.’”

On the same day, Representative Yong said on Facebook, “This agreement shows how absurd the proposal to impose a 2% comprehensive real estate tax was, and that the sole concern was to appease Seoul voters ahead of the presidential election, which the Democratic Party of Korea has admitted themselves.”

He raised his voice, saying, “It has only been one year since the Real Estate 3 Acts were passed last August,” and “We have not even sent out a single comprehensive real estate tax bill under the Real Estate 3 Acts.”

He added, “Among the 14 ruling party members of the National Assembly’s Planning and Finance Committee, 7 belong to presidential candidate camps that talk about land holding tax and the public concept of land,” and sharply criticized, “Isn’t it shameful to lead the weakening of the comprehensive real estate tax in the National Assembly while pledging to realize the public concept of land and introduce land holding tax in the presidential election?”

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