[Full Text] Lee Jae-myung "Great Regret Over Moon Administration's Real Estate Policy... Deeply Responsible as Presidential Candidate"

Lee Jae-myung, the Democratic Party presidential candidate, held a New Year's press conference on the 4th at the Kia Motors factory in Gwangmyeong, Gyeonggi Province, under the theme "Vision for Korea's Great Transformation and National Leap Forward." Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Jeon Jinyoung] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, attended the '20th Presidential Election Next Government Operation and Major Policy Areas Grand Debate' hosted by the Korean Association for Public Administration, the Korean Association for Policy Studies, and JoongAng Ilbo at the Press Center in Jung-gu, Seoul on the morning of the 6th. He said, "There are many regrets regarding the Moon Jae-in administration's real estate policy," and added, "As a member of the ruling party and a presidential candidate, I deeply feel responsible. I apologize once again to the people." The full text follows.

Nice to meet you.

I am Lee Jae-myung, the 20th presidential election candidate of the Democratic Party of Korea.

Thank you to

the Korean Association for Public Administration, the Korean Association for Policy Studies, and JoongAng Ilbo

for organizing this meaningful event.

The new year of Im-in (2022) has dawned, but my heart is heavy.

All citizens have been going through difficult times due to the ongoing COVID-19 crisis for over two years.

I believe everyone here feels the same.

Professors must be greatly disappointed not to meet their students,

and researchers must have faced many difficulties as they need to gather and discuss face-to-face to enhance research outcomes.

I pledge to do my best to overcome this crisis as soon as possible

so that all citizens can greet tomorrow with hope better than today.

South Korea is currently facing a transformational crisis both internally and externally.

The energy transition due to the climate crisis,

and the digital transformation brought by the technological revolution

threaten not only the economy, industry, and jobs,

but also the sustainability of the nation.

Internally, we face the crisis of low growth, polarization, and unfairness.

Low growth has widened and deepened the swamp of polarization and unfairness.

The asset gap is growing day by day,

and opportunities for challenge and growth are decreasing.

Moreover, the rise in real estate prices

has deepened the gap of polarization felt by the people.

Everyone's life has been shaken by the two-year-long COVID-19 pandemic.

The external environment is also challenging.

The US-China hegemonic war threatens the global supply chain.

As an export-driven economy,

this directly affects the lives of the people.

If we fail to overcome this crisis,

both the lives of the people and the fate of the country will fall into ruin.

The next government faces a significant task to turn this transformational crisis into an opportunity,

to restore growth, and to resolve unfairness and polarization.

Only a prepared and capable government can overcome the crisis

and improve the lives of the people.

The root of the problem lies in low growth.

If we do not solve the low growth problem, all remedies will be ineffective.

We must change the economy to an upward growth curve through transformational growth.

President Park Chung-hee achieved industrialization through the Gyeongbu Expressway.

President Kim Dae-jung laid the foundation of an IT powerhouse with the Information Highway.

I will build a dense renewable energy highway powered by sunlight and wind

to overcome the energy transition crisis.

To this end, we will execute massive public investments led by the state.

We will not passively follow the climate crisis and decarbonized society, but actively lead it,

creating another economic miracle that will astonish the world, following the Miracle on the Han River.

Growth must be fair.

We will efficiently reallocate tangible and intangible resources,

and ensure that all citizens equally enjoy opportunities for challenge and growth.

We will create a society where breaking the rules does not bring benefits,

and following the rules does not cause losses,

making it predictable and trustworthy.

We will set challenging goals together with the people

and concentrate all national capabilities to achieve them.

With the goal of becoming the 5th largest comprehensive national power, a G5,

we will move toward a per capita income of $50,000.

We will build an economy strong in small and medium enterprises,

a nation full of opportunities for innovative startups,

and a country where small business owners and self-employed thrive.

By expanding economic basic rights,

we will create a country where everyone prospers together.

We must end the paradoxical situation where the country grows but the people's lives become harder.

We will institutionalize and expand basic income, basic housing, and basic finance

so that everyone can enjoy a minimum dignified life.

Beyond merely guaranteeing minimum living standards,

we will create a country where people can dream of a better tomorrow than today,

and where fair opportunities are guaranteed.

What I especially want to focus on is

the dream of creating a 'Youth Opportunity Nation.'

The reality faced by young people today is very difficult.

The wage gap between large corporations and SMEs, regular and irregular workers is widening,

and the doors to employment are closing.

The asset and education gaps of parents

are directly passed on to the youth,

and the transition to an aging society is a heavy burden on the younger generation.

Youth should be the center of the present, not just the future leaders.

We will focus national investment on the youth.

Through youth basic income, youth basic housing, and bold support for employment and startups,

we will open the doors of opportunity wide for young people.

We will create policies for youth by brainstorming with them

and implement them together.

We will build a country where young people can passionately challenge themselves again

and dream of a happy future.

We will eliminate the real estate speculation republic.

Despite many achievements of the Moon Jae-in government,

there are many regrets regarding real estate policy.

High housing prices have caused great pain to the people.

Deviations by high-ranking officials contrary to government policy

have undermined trust in the policy itself.

As a member of the ruling party and a presidential candidate, I deeply feel responsible.

I am sorry.

I apologize once again to the people.

Last year, we failed to achieve institutional reforms such as strengthening the development profit recovery system

and the price ceiling system during the regular National Assembly session.

However, we are starting with what can be done immediately.

We are reforming the real estate tax system to reduce the burden on the people.

We will continue to listen carefully to the voices of the people,

eliminate unfairness, and rationally adjust unreasonable matters.

Furthermore, we will keep the promise to supply 2.5 million units including basic housing

to achieve housing stability.

We will also carry out a major reform of the real estate system,

including strengthening taxation on non-business real estate

and preventing real estate speculation by foreign speculative capital.

The Lee Jae-myung government will devote its fate

to strongly promoting these policies from the early days of administration.

The role of leadership is important.

Strong leadership capable of overcoming crises,

firm conviction and philosophy in state governance,

and democratic competence are all necessary.

If it is for the people and their livelihood,

courage and decisiveness to overcome opposition from vested interests are required.

Diplomatic skills are also essential.

On the diplomatic stage where various interests collide,

the ability to maximize national interests is indispensable.

There must be a firm belief in peace on the Korean Peninsula.

In this era of crisis, if peace on the Korean Peninsula is not maintained

and tensions and confrontations escalate again,

economic growth will become unattainable.

I have overcome numerous crises to come this far.

I have turned crises into opportunities,

achieved results through practice, and proven my capabilities.

I have always tried to keep promises made to the people.

The public evaluation of me as a politician who keeps promises

is my only asset.

I will continue to strive to be a politician who keeps promises made to the people.

The Lee Jae-myung government will start anew

based on fierce and honest reflection.

So far, democratic governments and the Moon Jae-in government

have achieved many accomplishments.

However, we cannot confidently face the people's criticism

on whether we were competent in the economy and people's livelihood.

We will reflect more, innovate more,

and surely meet the people's expectations.

We will be a democratic government that responds swiftly to the people's demands

and solves problems competently.

The Lee Jae-myung government will make popular sovereignty its first principle.

"The sovereignty of the Republic of Korea resides in the people,

and all state power emanates from the people,"

is Article 1 of the Constitution.

The people are the owners of the country,

and all state power must be used solely for the people.

The Lee Jae-myung government will use the five-year authority entrusted by the people

only for the better life and happiness of the people.

The Lee Jae-myung government will be a government for the people's livelihood.

A government that cannot solve the people's livelihood problems

has no reason to exist.

With the determination of "only the people, only the livelihood,"

we will devote all government resources and policy capabilities

to improving the lives of the people.

The Lee Jae-myung government will be a pragmatic government.

If it is for economic growth and people's livelihood,

we will boldly adopt and implement policies regardless of left or right, progressivism or conservatism,

or whether they are Kim Dae-jung's or Park Chung-hee's policies.

We will actively engage in dialogue and compromise with the opposition.

Rather than delaying while neglecting people's livelihood to gain political advantage,

if even three or four policies can be implemented immediately,

we will concede and compromise.

The Lee Jae-myung government will be a government of integration.

We will practice balanced appointments.

Only passion and competence for the people are required.

We will appoint talents without discrimination based on faction or region.

Finally, on behalf of the Lee Jae-myung government,

there is something I definitely want to achieve.

Not a public service marked by complacency and inertia,

but a public service praised and applauded by the people.

There is a saying that South Korea has three parties:

the ruling party, the opposition party, and the bureaucratic party.

The ruling and opposition parties change by the people's choice,

but the bureaucracy does not change.

This shows how influential and strong the public service is.

The role of elected power is important.

How well the bureaucracy is led and controlled is the key.

When I was mayor of Seongnam, it took two years; as governor of Gyeonggi Province, one year.

The 95% pledge fulfillment rate in Seongnam and 98% in Gyeonggi Province

was never achieved by me alone.

Only one elected official changed, but

the achievements made by the public officials were worlds apart.

Now, it can be implemented immediately.

With precise delegation and clear rewards and punishments,

we will reform the public service.

We will prove how competent

and how creative and passionate the one million public officials in South Korea are

in improving the lives of the people.

Thank you for listening for a long time.

I will move 'forward' with the people.

I will work 'properly' for the people.

In 2022, South Korea will be the first in the world to feel the restoration of daily life,

a 'country that completely overcomes COVID-19,'

and I will do my best to make South Korea

a country where the economy flourishes and opportunities abound.

I wish health and happiness to all members and their families.

Thank you.

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