Lee Jae-myung: "After Taking Power, Strong and Comprehensive Real Estate Reform... Will Stabilize and Lower Housing Prices"

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, stated on the 2nd, "After taking office, I will prioritize a 'strong and sweeping real estate reform'." He promised to prevent houses and land from becoming sources of speculative income through unprecedented large-scale supply measures and the recovery of unearned income.

At the Democratic Party's campaign committee launch ceremony held at Olympic Park in Songpa-gu, Seoul, Lee said, "I will resolutely eliminate the stigma of a 'real estate unearned income republic' with the fate of the Lee Jae-myung administration at stake." He added, "I will turn the real estate crisis into an opportunity for a great transformation of the Republic of Korea," and emphasized, "I will ensure that houses and land do not become sources of speculative income." Lee particularly stressed, "We will start with institutional reforms such as strengthening the development profit recovery system and the price ceiling system for sale," and "Along with large-scale supply measures beyond general expectations, we will also supply high-quality basic housing on a large scale."

He pledged to stabilize housing prices downward and ensure that no one suffers because of housing. He raised his voice, saying, "We will return the development profits generated from the exercise of licensing authority entrusted by the people and the unearned income generated from the execution of public funds back to the people." Specifically, he announced that he would begin institutional reforms that can be implemented immediately in the regular National Assembly session, such as strengthening the development profit recovery system and the price ceiling system for sale.

Targeting the opposition, he strongly criticized, "We cannot entrust the fate of the country and the people to candidates who lack philosophy, historical awareness, and preparation," and said, "We cannot entrust the Republic of Korea to regressive forces that disparage Gwangju, advocate nuclear armament, and intend to bring tension and confrontation by breaking the inter-Korean agreements." He added, "This election will decide whether we return to the past or move forward to the future," and emphasized, "We must prevent the unrepentant return of the corrupt vested interests and the state-run manipulation forces ousted by the Candlelight Revolution."

Lee said, "The Lee Jae-myung administration emerging from the Democratic Party will correct mistakes, fill gaps, and add what is necessary on the foundation built by the Kim Dae-jung, Roh Moo-hyun, and Moon Jae-in administrations to surpass them," and promised, "I pledge to create a newer and more competent 4th Democratic government, a changed and innovative Lee Jae-myung administration."

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