[Hearing ZOOM] Is House Price Qualification for Economic Commander?… Ruling Party Criticizes Chu for Buying Expensive House

Deputy Prime Minister and Minister of Economy and Finance nominee Choo Kyung-ho is attending the confirmation hearing held at the National Assembly on the 2nd, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Kwon Haeyoung] "The house price exceeds 3 billion won," "The assets are 4 billion won, which does not meet the public's expectations," "How much is the mother-in-law's property? How did she increase her wealth?"

These were remarks made by members of the Democratic Party of Korea at the confirmation hearing for Choo Kyung-ho, nominee for Deputy Prime Minister and Minister of Economy and Finance, held at the National Assembly on the 2nd. Most lawmakers from both ruling and opposition parties focused on the new government's economic policy direction, including price stabilization measures, tax system, and real estate policies, as well as Choo's philosophy, convictions, and past experience as an economic bureaucrat. However, some members raised issues regarding his assets. They criticized him by saying that having house prices in the 3 billion won range and assets exceeding 4 billion won causes discomfort among the public.

It is essential to verify the morality of public officials. Competence is fundamental, but thorough verification must be conducted to ensure there were no illegal or unethical actions throughout their lives and that they possess moral integrity. This includes the process of asset formation. If there were problems in the process of increasing assets, disqualification is natural. However, simply criticizing the Deputy Prime Minister nominee for being in the "top 0.X%" in Korea based on house prices alone is neither reasonable nor appropriate to witness. Moreover, these prices have more than doubled under the Moon Jae-in administration, showing a lack of situational awareness and inability to distinguish friend from foe.

Under the current administration, one of the essential virtues for public officials has become being a "single-homeowner." For any reason, owning two or more houses means that promotion to senior executive service is out of the question. A director in a central government agency who was a two-homeowner agonized for months over not being able to sell his house, and as soon as he sold it last year, he was promoted to grade 1. By labeling multi-homeowners as speculators and threatening the public that they should only own one house, the current government itself has created a farce where public servants, who should be evaluated based on ability, are judged by the number of houses they own.

Now, the public needs a government and public officials who perform well. Whether senior officials own one house or two, live in Gangbuk or Gangnam, or have houses worth 500 million won or 5 billion won, it has no relation to the lives of the people. What is desired are bureaucrats who have the competence as public officials and have not deviated from common sense and moral standards throughout their lives, who can revitalize the economy and stabilize people's livelihoods. Ordinary citizens want to live in a country where they do not even need to know the names of the Deputy Prime Minister or the Minister of Land, Infrastructure and Transport, nor the prices of their houses. The criticism of house prices at Choo's confirmation hearing the day before leaves an even more bitter aftertaste for this reason.

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