Prime Minister Han: "Will Take Steps to Improve System Regarding 'Villa King Jeonse Fraud'"

"1%P Corporate Tax Cut Insufficient to Attract Foreign Investment"

[Asia Economy Reporter Koo Chae-eun] On the 29th, Prime Minister Han Duck-soo responded to a question about whether there is a countermeasure at the Prime Minister's Office level regarding the ‘Villa King Jeonse Fraud’ by saying, “The government is well aware of this kind of fraudulent lease,” and added, “We will actively strive to improve the system.”

During a back briefing with the press corps at the Government Seoul Office that morning, Prime Minister Han said about the Villa King Jeonse fraud incident, “This is not the work of a single ministry; the Ministry of Economy and Finance, the Ministry of Land, Infrastructure and Transport, and the Office for Government Policy Coordination should combine their efforts to carry out institutional reforms.” He particularly noted, “Although countermeasures have been announced regarding this issue, it is still known to be insufficient,” and expressed regret, saying, “I feel sorry that it is not adequate.”

The ‘Villa King Jeonse Fraud’ refers to a scam involving 1,139 houses owned by a deceased individual, which caused damage to many tenants. This case is linked to the reverse Jeonse crisis caused by falling housing prices, and there is an increasing number of organized Jeonse fraud cases through zero-capital gap investment schemes.

Regarding the fact that the reduction of the highest corporate tax rate was only 1 percentage point (p) during the process of passing next year’s government budget, he said, “I think it is insufficient.” He added, “If domestic companies find it difficult to invest due to interest rates or financial conditions, it is necessary to actively attract foreign investment.” Prime Minister Han elaborated that the corporate tax cut is at least a definite incentive for foreign investors. He mentioned, “Overall, I wish the corporate tax rate and related tax rates had been adjusted to stimulate our economy.”

On the issue of a North Korean military drone invading our airspace, he described it as “a very regrettable incident.” Prime Minister Han said, “I think all soldiers, defense personnel, and equipment should have been thoroughly prepared through rigorous training,” and pointed out, “The military must work harder on preparedness and training to prevent such incidents and to avoid causing public concern.”

Regarding the full lifting of indoor mask mandates, Prime Minister Han said that expert opinions will be given the highest priority. He stated, “The government should not make decisions to protect the public from disease for political reasons,” and added, “We will listen to experts and make decisions based on their opinions.”

He also expressed willingness to meet with the bereaved families of the Itaewon tragedy if requested. He said, “Currently, each ministry has organizations established to communicate with the bereaved families,” and “We are making efforts to communicate in our own ways, but in some cases, the bereaved families have requested communication through specific groups. The government is not neglectful or indifferent about communication.”

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