Lee Jae-myung "Real estate is out of fashion... If you trust my election, asset growth should be in stocks"

[Asia Economy Reporter Park Jihwan] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, stated on the 3rd, "If you believe there is a possibility that Lee Jae-myung will become president, then from now on, asset growth should not be in real estate but in the stock market and capital markets."

On the afternoon of the same day, during a campaign rally in Gangseo-gu, Seoul, Lee said, "You all need to change your investment direction going forward."

Lee said, "The Democratic Party knows that we have caused you hardship through real estate," adding, "We should have created a better life for the people through several policies, but the skyrocketing real estate prices have made the dream of owning a home more distant. You did not ask for house prices to rise, but now that they have, I understand your anger at having to pay more taxes."

He continued, "The Lee Jae-myung Democratic government will not do that," emphasizing, "If there is a shortage of housing in the market, we will supply more. We will strictly regulate purchases made for speculative purposes due to distorted demand, protect those who buy one home to live in for life, and respect prices created by normal supply and demand in the market."

He raised his voice, saying that real estate is outdated, so people should only buy necessary homes and shift to financial asset markets. Lee emphasized, "If the market is normalized, short selling is banned, and practices like asset split re-listings that exploit existing shareholders are stopped, the stock market will revive, surpass 4,000 points, and the people's wallets will become stronger."

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