[Anchor]
President Lee Jae-myung presided over a national public debate on real estate policy. President Lee stated that normalizing the real estate market is South Korea's top priority, emphasizing that the goal is to normalize prices shaped by abnormal supply and demand.
Reporter Kang Min-u has the details.
[Reporter]
A major public debate on real estate was held, attended by around 140 participants, including academics, real estate experts, and civic group representatives.
President Lee stressed that stabilizing the housing market is one of South Korea's utmost tasks, highlighting the urgent need to derive solutions through social consensus.
[President Lee Jae-myung : "Talk of a 'lost 30 years' or 'lost 20 years' has emerged. Quite a few people are worried that we might actually be heading toward that peak."]
President Lee also stated that while market prices formed through proper supply and demand should be respected, the policy goal is to normalize distorted pricing caused by abnormal supply and demand.
[President Lee Jae-myung : "It's not about 'forcibly lowering prices.' If we set a housing price target and suppress or adjust supply and demand to match it, wouldn't that be close to a socialist state? Besides, it's not even possible."]
Expressing agreement with opinions pointing out the institutional loopholes behind the phenomenon known as owning 'one smart home,' he mentioned the necessity for correction.
[President Lee Jae-myung : "The concept of 'one smart home' has actually caused serious problems in our society. In a way, it has created the most efficient opportunity for speculation."]
In response to voices pointing out delays in the commencement of construction for the 3rd-generation new towns, President Lee stated that an internal review is underway to improve necessary regulations and procedures, aiming to cut construction periods by more than half.
During the debate, suggestions were raised to significantly lower transaction taxes while strengthening holding taxes, and to introduce a material stockpiling system to lower construction costs.
The discussion extended well beyond its scheduled time, and President Lee even proposed holding additional debates chaired by the Prime Minister.
(Video by Jeong Sang-bo and Ha Ryung | Video Editing by Wi Won-yang)
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