Jung Wono and Oh Sehoon Clash Head-On Over "Original Sin" of Real Estate

The ruling and opposition candidates for Seoul mayor are engaged in a heated debate over “original sin” regarding their past real estate policies, as real estate remains the decisive variable in the mayoral race.

Jung Wono, Democratic Party of Korea candidate for Seoul mayor, and Oh Sehoon, People Power Party candidate for Seoul mayor, are applauding at the 54th Parents' Day commemorative event held by the Seoul Federation of the Korean Senior Citizens Association on the 6th at Jangchung Gymnasium in Jung-gu, Seoul. Photo by Yonhap News.

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On the afternoon of May 6, Oh Sehoon, the People Power Party candidate for Seoul mayor, will hold a press conference marking the launch of the “Citizens’ Countermeasure Committee for Real Estate Hell” at his campaign office in Jongno-gu, Seoul. Park Sumin, Yoon Heesook, and Kim Jaeseop, who serve as co-chairs of the campaign committee, will also attend. Afterwards, Jung Wono, the Democratic Party candidate for Seoul mayor, will move to Seongdong-gu, where he previously served as district mayor, to hold the first meeting.

Oh plans to emphasize that the real estate policy stance of the Lee Jaemyung administration, including the 6·27 and 10·15 regulations, as well as the policies of the late former Seoul mayor Park Won-soon, have exacerbated the crisis in Seoul’s rental and lease markets. Oh has consistently argued, “If former mayor Park had not lifted the redevelopment zone designation from 389 areas during his tenure, there would have been a sufficient volume of redevelopment and reconstruction projects initiated and completed during my term.”

In contrast, Jung is taking direct aim at Oh’s past record, attempting to highlight the responsibility of the incumbent mayor. Jung stated, “Because Oh is the current mayor, he should first reflect on his performance as the current officeholder,” and added, “Talking now about Seoul becoming a ‘hell’ for renters is, in fact, self-criticism.”

Jung’s campaign team further criticized Oh in a statement titled, “Oh Sehoon, Who Created Real Estate Hell, Stop Making Irresponsible Excuses for Avoiding Accountability.” The statement questioned, “Who was it that, in February last year, lifted the designation of land transaction permit zones and thereby inflamed speculative sentiment in the real estate market?”

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