Jang Donghyuk: "If Jeong Wonoh Is Elected, Special Long-Term Holding Deduction Likely to Be Abolished... Real Estate Supply Policy Also Inadequate"

People Power Party Supreme Council Meeting Held on April 30

Jang Donghyuk, leader of the People Power Party, stated on April 30, "If Jeong Wonoh, the Democratic Party’s candidate for Seoul mayor, is elected, he will push for increasing property holding taxes and abolishing the special long-term holding deduction," adding, "If Jeong is elected, Seoul citizens will be forced out of their homes."

At the Supreme Council meeting held at the National Assembly on this day, Jang criticized, "Jeong's real estate supply policy is merely a copy of the inadequate policies of the Lee Jaemyung administration," and pointed out, "When it comes to the truly critical matters of raising property holding taxes and abolishing the special long-term holding deduction, Jeong is evading clear answers."

Jang Dong-hyuk, leader of the People Power Party, is speaking at the Supreme Council meeting held at the National Assembly on April 30, 2026. Photo by Kim Hyunmin

He also intensified his criticism regarding the government's plan to pay fair wage allowances to public sector fixed-term workers. Jang remarked, "After the president said, 'It is fair for non-regular workers to be paid more,' they created a public sector fair wage allowance and promised to raise salaries," and he emphasized, "This is a failed policy that has already shown more negative side effects in countries like France."

He went on to add, "Self-employed business owners and small merchants are already struggling due to the increased minimum wage, and now, with the introduction of the fair wage allowance, they are furious, saying they will have no choice but to close their businesses."

Finally, he also addressed the issue of youth employment. Jang stressed, "The youth unemployment rate is at its highest level since COVID-19, and the number of employed young people is at its lowest since statistics began in 1980," and urged, "Rather than focusing solely on boosting the stock market, the president must enact a major shift in economic policy to revitalize corporate activity and create youth jobs."

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