Economist-turned-politician Yoo Seung-min's Criticism... "Yoon Seok-yeol's 'Won-ga Housing' Pledge is Populism"

"Market Principles Needed Not for Food but for Real Estate"
"Lease 3 Laws Should Be Abolished, Not Amended"
"First Home in Station Area... Current Government Making No Progress"

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] Yoo Seung-min, a presidential candidate from the People Power Party, criticized former Prosecutor General Yoon Seok-yeol's real estate pledges on the 29th as "populism." He viewed policies such as cost-price housing and transit-oriented development as unrealistic. He also criticized the plan to revise and supplement the three lease laws, saying it "lacks market understanding."

On the same day, Yoo posted on social media (SNS) regarding Yoon's real estate pledges, saying, "The 'cost-price housing' and 'first house near transit stations' policies are worrisome," and added, "If implemented as announced, cost-price housing would require enormous national finances and is an unrealistic pledge. Compared to this, private-led development and supply, as in my pledge, would have a quicker effect on stabilizing housing prices and monthly rent."

He continued, "The state-led transit-oriented development method was already proposed by the Moon Jae-in administration, but most experts evaluated it negatively, and currently, there has been no progress."

Regarding the plan to revise and supplement the three lease laws, he said, "It is difficult to understand how the rental market can be normalized without repealing the part where the Democratic Party forcibly passed the three lease laws last year," adding, "It is clear that simply providing incentives to landlords cannot solve the triple price system in the current lease market, the surge in monthly rents, or the shortage of jeonse (key money deposit) housing. Since these are causes of soaring housing prices, the three lease laws must be repealed."

Earlier, after announcing his pledges, Yoon said during a Q&A session with reporters regarding the three lease laws, "I think the system should be revised within the scope that does not cause market confusion."

Yoo said, "Both the cost-price housing and maintaining the three lease laws pledges are populist promises that could not have come from someone who properly understood Milton Friedman's market principles, which Candidate Yoon holds as sacred," and added, "Market principles are not junk food; they are necessary for real estate."

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