"Realization of '1.3 Million People Comprehensive Real Estate Tax'... Ruling Party Gangnam Lawmakers Express 'Regretful Feelings'"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] With the number of comprehensive real estate tax (종합부동산세, 종부세) payers confirmed to be about 1.3 million this year, ruling party lawmakers representing Gangnam have responded to criticism from the opposition party by expressing "a feeling of regret."

On the 21st, Yoo Kyung-joon, a member of the People Power Party (Seoul Gangnam-byeong), stated through his social network service (SNS), "The Yoon Seok-yeol administration promised to revert real estate taxes to the levels before the Moon Jae-in administration, but we have not yet fully fulfilled this promise, and I feel regretful," he said.

He added, "'How to reduce the 종부세 bomb' has always been a concern for me, and I have advocated many tax reduction measures related to real estate taxes, but due to the unilateral opposition of the Democratic Party, which holds the majority in the National Assembly during the Moon Jae-in administration, no progress has been made," he said.

Yoo said, "Despite the opposition from the Democratic Party, next year, the Yoon Seok-yeol administration and I will introduce various policies to ensure that you no longer suffer from the 종부세 bomb," and raised his voice, "In particular, we will push for the immediate abolition of the 'officially assessed price realization plan' that was promoted to raise taxes during the Moon Jae-in administration."

[Image source=Yonhap News]

Taeyoung-ho, a member of the same party (Seoul Gangnam-gap), said on SNS, "Although house prices have fallen, the number of 종부세 taxpayers has increased by 270,000 compared to last year. This is entirely due to the Democratic Party," and raised his voice, "The Yoon Seok-yeol administration's plan to introduce a special deduction of 300 million KRW for single-home households and increase the basic deduction amount from 1.1 billion KRW to 1.4 billion KRW this year was blocked due to opposition from the Democratic Party."

He pointed out, "The 종부세 is a tax on unrealized gains, and despite the existence of property tax, it imposes another progressive holding tax on the same houses and land, which may infringe on property rights," and criticized, "Even after losing power due to harsh real estate taxes, the Democratic Party still uses its parliamentary power to portray taxpayers as bad people."

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