President Lee: "Financial Sector Key to Real Estate Issues... Taxation Must Be Used as Last Resort if Necessary"

Presides Over Cabinet Meeting in Sejong on the 17th
"Supply Policies Must Be Thoroughly Prepared"

President Lee Jaemyung emphasized that the role of the financial sector is extremely important in solving the real estate problem, and he requested that careful methods be sought.

Yonhap News

On March 17, during a Cabinet meeting held at the Government Complex Sejong, President Lee stated, "The entire territory of Korea has become an object of speculation and investment, and finance has had the greatest impact on this situation."

President Lee added, "Borrowing other people's money, buying with other people's money, and thus increasing one's own assets has become a trend, making those who do not engage in such activities feel disadvantaged. This time, we must absolutely get the real estate market under control, and the most important factor in this is the financial sector."

He stressed the need to meticulously prepare supply policies. Regarding real estate taxation, he said that while it should be the last resort, it must be used if the situation requires it. President Lee urged the Ministry of Land, Infrastructure and Transport to perform well and thoroughly prepare supply policies.

He went on to say, "Taxation should be a last resort. In terms of war, it is like a nuclear bomb. It should not be used carelessly. However, if there comes a situation where it absolutely must be used as the final measure, then it must be used. Please make thorough preparations."

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