Mun Yeokrin and Daejangdong Direct Confrontation.. Lee Jae-myung Faces Real Estate Head-On

Emphasis on Reform at the First Meeting of the Presidential Campaign Committee
Urging Promotion of Development Profit Recoupment System
Targeting Opposition's Daejang-dong Allegations
"Corrupt Forces' Brazen Counterattack"

Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, is delivering a speech at the Central Election Countermeasures Committee meeting held at the National Assembly on the 3rd. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Koo Chae-eun and Jeon Jin-young] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, reiterated the importance of a ‘major real estate reform’ at the first meeting of the election campaign committee following the launch ceremony held the previous day. He urged the committee members, saying, "Please create and strengthen the system to uphold the principle that ‘real estate unearned income must belong to the people.’" Lee specifically targeted the opposition’s attacks regarding the Daejang-dong preferential treatment allegations, stating, "Corrupt forces are making groundless claims about why public development was not pursued and are engaging in shameless attacks."

This can be interpreted as a strategy to confront the Moon Jae-in administration’s ‘real estate failures’ head-on while preemptively addressing the real estate policy issue, which is a ‘sore spot’ for public sentiment, in order to gain an advantage over opposition candidates. The intention appears to be to ‘turn the tables’ on the opposition’s attack point?the Daejang-dong preferential treatment allegations?through policy drives such as the ‘real estate development profit recovery system’ and ‘large-scale supply measures.’

At the election campaign committee meeting he chaired for the first time that day, Lee said to the opposition, "Until recently, corrupt forces pursued private development and shared private profits with private developers, but suddenly their stance has reversed, and they are now advocating for public development." He added, "The best environment for a major real estate reform has been created," and "When unfair attacks occur, it is our opportunity to counterattack." Lee specifically pointed out, "The most difficult part that constrains the lives of our people is real estate, and if you look at the root cause, it is the so-called ‘land rent’ unearned income that a specific few and corrupt political forces have colluded to monopolize." He continued, "The truth is that the overwhelming majority of decent citizens suffer because of the wrongful process of accumulating wealth through real estate speculation." Lee urged the swift promotion of the real estate development profit full recovery system, the price ceiling system for sale, and the disclosure system of sale costs.

Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, is attending the Central Election Countermeasures Committee meeting held at the National Assembly on the 3rd and delivering an opening remark. Photo by Yoon Dong-joo doso7@

Accordingly, the Democratic Party plans to engage in party-government consultations this month during the regular National Assembly session to pass related bills. Ko Yong-jin, the senior spokesperson for the Democratic Party, emphasized in a back briefing after the election campaign committee meeting, "Since the bill related to the development profit recovery system has already been proposed, the party and government will consult quickly to produce results."

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