Criticism that Discussion Leaned Toward Regulation… What Was the Reaction to the Real Estate Debate?

[Anchor]

Reporter Kang Min-u, who covers the Blue House, is here with us.

Q. Overall review of the debate?

[Reporter Kang Min-u: While adopting a format of listening to public opinions, I would say it revealed the real estate policy goals and direction of the Lee Jae-myung administration, particularly its strong will to strengthen taxes and regulations. When asked what the policy goal is, President Lee emphasized the normalization of the abnormal, while noting that it is not about artificially lowering housing prices. This is interpreted as emphasizing the use of taxation, including strengthening holding taxes on ultra-luxury homes, and suppressing speculation. In particular, President Lee gave a round of applause—the only time he did so—to a remark by a national university student from a regional area who suggested suppressing unearned income through strengthened comprehensive real estate holding taxes and the retrieval of capital gains, and using those revenues to support local infrastructure and the younger generation. He also mentioned several times that he is well aware of the political explosiveness and tax resistance associated with real estate policy and tax hikes, and stated in his closing remarks that he would 'accept the difficulties.' While acknowledging that complaints are inevitable, he demonstrated a strong policy will by noting that such an opportunity does not come often.]

Q. Criticisms that the debate leaned toward the "regulation argument"?

[Reporter Kang Min-u: There is a perspective that since the attendees were selected by the Blue House, there were naturally many opinions in favor of strengthening holding taxes and regulations overall. However, quite a few attendees also voiced concerns or opposing views. In particular, there were concerns about potential side effects where strengthened holding taxes could be passed on to tenants, and opinions that regulations on multiple-home owners could lead to a contraction in private rental businesses, resulting in reduced jeonse supply and worsening residential environments. There was also an opinion that owners of ultra-luxury homes should not be demonized.]

Q. Reactions from the political circles?

[Reporter Kang Min-u: First, the Democratic Party evaluated it as an expression of a strong will to listen to the public's voice and reflect it in policies. On the other hand, the People Power Party sharply criticized it as a rigged debate and a public opinion-gathering show that merely sought to build justification with predetermined answers, pointing out that there was no mention whatsoever of the controversies surrounding President Lee's sale of a Bundang house and the establishment of a collateral security right worth about 1.7 billion won.]

※