Lee: "Exclude 'Multiple-Homeowner Officials' from Real Estate Policy Discussions"...Blue House: "To Implement After Assessing Status"

President Lee Expresses Determination to Prevent Conflicts of Interest Through Social Media Message

"We must not make countless people homeless like snails for the profit of a few"

Blue House: "Strong commitment to policy design... Guideline

On March 22, President Lee Jaemyung announced that he had instructed the Blue House and the Cabinet to exclude multiple-home owners, non-resident owners of high-priced homes, and those with excessive real estate holdings from the discussion, drafting, reporting, and approval processes of housing and real estate policies. This directive is intended to fundamentally prevent conflicts of interest among public officials. It is reported that, following these instructions, the government is currently identifying the real estate holdings of officials in charge of real estate and housing policy.

On this day, President Lee wrote on X (formerly Twitter), "I have directed the Blue House and the Cabinet to exclude multiple-home owners, non-resident owners of high-priced homes, and those with excessive real estate holdings from the discussion, drafting, reporting, and approval processes of housing and real estate policies." He continued, "Escaping from the 'Republic of Real Estate' is one of the most crucial tasks for Korea's great transformation, and there must not be even a 0.1% defect or loophole in real estate or housing policy."

President Lee stated, "There is no reason to criticize multiple-home owners or those who own non-resident homes for investment or speculation, or even ultra-expensive homes themselves." However, he pointed out, "The real problem lies with public officials who designed tax, financial, and regulatory policies in such a way that it benefits people with more properties and drives up housing prices." He added, "If public officials who made such systems or those who allowed them to persist then exploit these flawed policies for speculation, they deserve not only criticism but also sanctions. From now on, it is only reasonable to exclude such individuals from real estate and housing policy."

President Lee especially emphasized that the stability of housing prices is directly tied to the success or failure of his administration. He said, "Stabilizing real estate—especially housing prices—is a matter that determines the success of this administration and the fate of the Republic of Korea." He stressed, "Without a home, people cannot run a household, get married, or raise children." He then asked, "I believe that we should not create a society where countless people are left like homeless snails for the profit of a few. What do you think?"

Reflecting President Lee's strong intent to design robust policies, the government is currently identifying the real estate holdings of those responsible for real estate and housing policy. Lee Guyoun, Senior Presidential Secretary for Public Relations and Communications, said at a briefing at the Blue House press center, "President Lee believes that it is inappropriate for officials in charge of real estate and housing policy who themselves own multiple homes to participate in designing better policies by selling their properties." He added, "We are currently identifying the real estate holdings of policy officials. Once this is complete, measures to exclude such individuals from their work will be implemented, and these guidelines have already been communicated to relevant ministries."

President Lee has repeatedly emphasized the need to strengthen regulations on multiple-home owners, non-resident single-home owners, and those with excessive real estate holdings, demonstrating his determination to stabilize the housing market. The message delivered today goes a step further, directly targeting the conflict of interest issues in the real estate policy decision-making process. It is expected to have a considerable impact on future personnel appointments and policy operations at the Blue House and throughout the government.

President Lee also addressed the issue of so-called "loophole loans" the previous day, which involve purchasing homes with business loans as an individual proprietor. He stated, "It is clear which is the more rational choice: facing criminal charges for fraud, a National Tax Service investigation, and forced loan recall, or proactively repaying the loan voluntarily." The National Tax Service has announced that it will conduct a full review of cases where business loans were used as a source of funds in the home purchasing process. This serves as another stern warning against real estate speculation through illegal loans.

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