Real Estate Policy Debate Scheduled for the 23rd: "We Welcome Your Opinions on Appropriate Property Taxes"

[Anchor]

President Lee Jae-myung will personally preside over a grand debate on real estate policy on the 23rd. The plan is to collect public opinion on key issues, such as the appropriate level of property taxes, and incorporate them into a tax reform proposal to be announced by early next month at the latest.

Reporter Kang Cheongwan has the story.

[Reporter]

The Blue House announced that President Lee Jae-myung will preside over a grand debate on real estate policy on the 23rd, which will bring together members of the general public, experts, and government officials.

Leading up to the grand debate, the Ministry of Land, Infrastructure and Transport will hold an open forum on supply on the 14th, followed by the Financial Services Commission on finance on the 15th, and the Ministry of Economy and Finance on taxation on the 16th.

Public opinions will also be collected via the internet.

It is understood that the Blue House pushed for this debate amid the judgment that real estate prices continue to rise—with Seoul apartment prices having increased for 74 consecutive weeks—and that public sentiment regarding real estate is worsening.

Kim Yong-beom, Chief of Staff for Policy at the Blue House, stated, "Public concern surrounding the recent real estate market is growing," adding, "The government is also taking the market situation very seriously."

The debate is expected to cover a wide range of real estate policy issues, including tax reform such as property taxes, supply measures, and loan regulations.

President Lee posted on social media that he would announce key issues in advance, such as what constitutes an appropriate property tax, whether to differentiate between single-home owners for residential purposes and non-residential or multi-home owners, and the relationship between property taxes and transaction taxes, while asking the public to share their opinions.

President Lee mentioned during his press conference marking his first year in office last month that property taxes in Korea are too low.

[President Lee Jae-myung (Press conference marking first year in office, June 8): Property taxes in our country are generally low. Therefore, there is little burden even if one buys and accumulates many properties.]

Observers suggest that the government is pushing for tax reform with a focus on increasing property taxes while lowering transaction taxes.

Chief of Staff Kim stated that the opinions gathered during the debate could be reflected in the tax reform proposal, which is set to be announced by early next month at the latest.

(Video reporting: Jung Sang-bo | Video editing: Park Sun-soo | Design: Kang Yoon-jung)
※ Please note: This article was translated by AI and may contain errors.