KOR- Song of the 'scrapped bus' meme... Evil if intentional, incompetent if unaware
- Knowing the right answers to real estate policy yet choosing wrong ones, infuriating
- Truth dispute over 'opposition to Yongsan Park development'? Oh's position is clear
- Developing green space is the wrong approach… Reconstruction and redevelopment are the answer
- Lee administration targeting random land for 'panic supply', needs to regain reason
- Public rental housing? Would the younger generation want temporary shelters
- Jang Dong-hyeok replacing local chapter heads? Stop wasting energy on the wrong things
- Jang Dong-hyeok's future? Cooldown is over, time for serious discussion
■ Broadcast: SBS Kim Tae-hyun's Political Show (FM 103.5 MHz 7:00 – 9:00)
■ Date: August 19, 2026 (Wednesday)
■ Host: Attorney Kim Tae-hyun
■ Guest: Rep. Kim Jae-sub, People Power Party
[Kim Tae-hyun] Public response to the government's real estate supply measures has not been entirely positive. We will talk with Representative Kim Jae-sub of the People Power Party, whose constituency is Dobong-gap in Seoul and who serves as the head of the Seoul chapter's Special Committee for Normalizing the Housing Ladder. Hello, Representative.
[Kim Jae-sub] Hello. This is Kim Jae-sub, the star born and raised in Dobong.
[Kim Tae-hyun] Representative, it has been a while.
[Kim Jae-sub] It has been a while since I greeted you.
[Kim Tae-hyun] A lot has happened in the meantime.
[Kim Jae-sub] A lot has happened.
[Kim Tae-hyun] In Korean politics, even meeting after a week means a lot has happened.
[Kim Jae-sub] I think this is the first time I've seen you since the election ended.
[Kim Tae-hyun] Right?
[Kim Jae-sub] Yes. It has been quite some time.
[Kim Tae-hyun] Let's talk about real estate first. Looking at your Facebook, you commented on the Democratic Party's choice of Zaza's song 'In the Bus' for their national convention congratulatory performance—which is a great song, and one I like too.
[Kim Jae-sub] That's right.
[Kim Tae-hyun] Regarding this song choice, you raised questions, saying, "This is giving a huge middle finger to young people. Was Representative Hwang Hee's apology over the scrapped bus youth housing controversy even sincere?" You took issue with it to that extent. Surely the Democratic Party didn't do that intentionally to insult young people, did they?
[Kim Jae-sub] I think they did.
[Kim Tae-hyun] Really?
[Kim Jae-sub] The reason is that 'In the Bus' became a widespread meme, especially among young people.
[Kim Tae-hyun] After the scrapped bus controversy.
[Kim Jae-sub] After that controversy, the AI parody video mocking and criticizing Rep. Hwang Hee became so famous that almost everyone in the nation saw it. In the middle of all that, playing that song to dance and sing at their national convention was, as I put it, truly giving a huge middle finger to the youth demographic. That is how I see it.
[Kim Tae-hyun] They probably didn't do it on purpose.
[Kim Jae-sub] But I also think of it this way.
[Kim Tae-hyun] Could it just be an insensitive mistake?
[Kim Jae-sub] Even if so, that is still a problem. As I wrote in that same post, everyone remembers that not long ago, when a female idol used an expression like "Is it scary-no?", people framed it as Ilbe slang and launched an intense witch hunt against her, with the Democratic Party camp joining in on public shaming. But that wasn't intentional, nor was it even problematic—it was at most an innocent mistake, yet they treated it like that. Can they now just brush off playing this song as a simple incident? I don't think so. How much must they disregard or look down on young people to play that song openly at their national convention? That was the point I wanted to make. If they knew, they are evil; if they didn't know, they are incompetent.
[Kim Tae-hyun] You mean that kind of mindset underlies it.
[Kim Jae-sub] Absolutely.
[Kim Tae-hyun] You must be hearing a lot of public sentiment from young people right now.
[Kim Jae-sub] I hear a lot.
[Kim Tae-hyun] What is their biggest complaint regarding this real estate policy?
[Kim Jae-sub] The most infuriating part is that they know the correct answer but are doing something else entirely. For example, during the Moon Jae-in administration, their line, ideology, and way of thinking were somewhat predictable. We could understand that they came up with such policies because that was how they viewed the solution. Even though it was frustrating, home prices rose, and people were angry, we could at least recognize where their mindset came from.
[Kim Tae-hyun] For example, trying to stabilize real estate through taxes.
[Kim Jae-sub] Exactly. The Moon Jae-in administration foolishly tried to curb housing prices by tightening regulations without expanding supply. But President Lee Jae-myung knows very well that this approach was wrong. When he ran for president, he pledged not to curb housing prices through taxes, promised to expand loans, and vowed to boost supply. He already knows the right answer. Yet instead of doing that, he is repeating the mistakes of the Moon Jae-in administration. Because he knows better, it is even more frustrating. He knows the method, yet refuses to use it.
[Kim Tae-hyun] So during the Moon Jae-in administration, one could somewhat overlook it assuming they didn't know better.
[Kim Jae-sub] But here, they do it while knowing full well. Even with the clear answer sheet right in front of them, they set it aside and follow the same wrong answers from the past. That makes people even more furious.
[Kim Tae-hyun] What young people want, simply put, is an affordable supply of quality housing.
[Kim Jae-sub] That's right.
[Kim Tae-hyun] That brings us to related issues. Yesterday, President Lee and Seoul Mayor Oh Se-hoon reportedly clashed at a closed Cabinet meeting. There are two main points. First, regarding the Yongsan Park development, Mayor Oh stated his opposition to developing Yongsan Park directly to the president. However, presidential spokesperson Kang Yu-jung said, "There appear to be parts that differ from the facts. I did not hear such remarks," leading to a minor dispute over the facts.
[Kim Jae-sub] Mayor Oh Se-hoon's position is clear, whether inside or outside the Cabinet meeting. He opposed developing the Yongsan area before, continues to oppose it now, and has no reason to support it. Therefore, I place much more weight on Mayor Oh's remarks. Developing it was the wrong answer from the start.
[Kim Tae-hyun] You are also opposed, Representative?
[Kim Jae-sub] I am opposed as well. As Mayor Oh properly explained, parks and green spaces in a densely packed city like Seoul should not be tampered with carelessly. As for how to solve the supply shortage, the answer is already clear: reconstruction and redevelopment are the fastest and most accurate paths. Yet after blocking those, resorting to lifting greenbelt restrictions or developing green spaces is fundamentally the wrong approach.
[Kim Tae-hyun] Right.
[Kim Jae-sub] Reconstruction and redevelopment are proven to be the fastest ways to supply housing. However, after the Lee Jae-myung administration implemented the October 15 real estate measures last year, prohibiting the transfer of union member status in apartments caused bubbles in areas like Gangnam, while in northern Seoul or areas with lower profitability, allowing transfers actually kept projects moving smoothly. In other words, it brought vitality to reconstruction. But they blocked that. It is the same for redevelopment. A very common grievance I hear is that to proceed with redevelopment, group loans must be available and sufficient financing must be provided so residents can relocate and settle elsewhere.
[Kim Tae-hyun] That is true.
[Kim Jae-sub] But with group loans blocked and total loan caps strictly restricted, people cannot move and redevelopment cannot proceed. In a situation where neither redevelopment nor reconstruction is permitted, taking green spaces away from Seoul citizens to build housing is simply the wrong method.
[Kim Tae-hyun] Speaking of redevelopment and reconstruction, Mayor Oh requested the deregulation of redevelopment and reconstruction at yesterday's closed Cabinet meeting. In response, President Lee Jae-myung opposed it to his face, reportedly saying that while supply needs to increase, the potential for skyrocketing housing prices must not be elevated. At a previous real estate forum, the president made similar remarks, saying redevelopment and reconstruction do not necessarily increase supply. Mayor Oh and the president seem to have entirely different views on redevelopment and reconstruction.
[Kim Jae-sub] What I keep wanting to say to President Lee Jae-myung is that he needs to emulate candidate Lee Jae-myung from a year ago. Back then, he already laid out all the answers.
[Kim Tae-hyun] Regarding redevelopment and reconstruction?
[Kim Jae-sub] He said it must be done, and so many people know that is the correct answer. There are quite a few areas in Seoul currently stalled because of restrictions. The government keeps creating strange regulations, but lifting those is what actually enables a smooth supply. I really don't understand why he acts this way when he already knows the answer.
[Kim Tae-hyun] What do you think is the reason?
[Kim Jae-sub] Well, I think it comes from the mindset long held by the Lee Jae-myung administration and the Democratic Party—that there must strictly be one house per household, or that homes are for living in, not buying. Because they push government policy based on such flawed thinking, this is the result. I believe housing supply is extremely critical. During the June 3 local elections, Mayor Oh Se-hoon emphasized supply measures heavily under the slogan "Supply at all costs." In contrast, the supply being pursued by the Lee Jae-myung administration is merely 'panic supply.' Just as people make 'panic buys' when rushed to purchase apartments, the Lee administration's current supply is 'panic supply.' Not knowing what to do and having blocked reconstruction and redevelopment, they are grabbing random plots of land to build on. It is time for them to regain their reason.
[Kim Tae-hyun] Looking at yesterday's Blue House briefing, they stated that the president noted "both positive and negative aspects exist" regarding the deregulation of redevelopment and reconstruction. According to the Blue House, he instructed Prime Minister Han Seong-sook to "find a middle ground where positive aspects are maximized and negative aspects are minimized, and review diverse opinions to find ways to expand supply."
[Kim Jae-sub] Which citizen hearing that would think supply will now proceed smoothly? That is just a generic, meaningless statement. Naturally, every issue has pros and cons, and saying they will look for solutions is not enough. Now is not the time to look for solutions; it is time to swiftly execute the solutions that already exist.
[Kim Tae-hyun] Understood. Regarding the Yongsan Park development that you opposed earlier: the government's stance appears firm. It has been reported that they plan to push for housing supply centered on public rental housing for youth at the Yongsan Children's Garden, with talks of revising and passing related legislation. From a young person's perspective, Yongsan is an excellent location. Could they not welcome living in a great area at an affordable price through public rental housing?
[Kim Jae-sub] The problem is that it is public rental housing. While development can be done if absolutely necessary, what I consistently argue is that we must create a structure where young people can actually buy homes.
[Kim Tae-hyun] For young people?
[Kim Jae-sub] Of course. Long-term, young people need to be able to own a home that can serve as an asset within their financial reach.
[Kim Tae-hyun] Within an affordable range.
[Kim Jae-sub] Exactly. Young people need to be able to acquire homes that help build assets. Rental housing merely provides immediate temporary shelter. I do not think real estate policy should work that way. As I mentioned earlier, the rhetoric that homes are places to live, not buy, has carried over from the Moon Jae-in administration into the Lee Jae-myung administration. Housing is crucial because young people and newlyweds face immense uncertainty preparing for retirement. We have the national pension, but nobody knows when it might be depleted, and with changes to contribution rates, the younger generation cannot truly rely on it for retirement. Korea's social safety nets for old age are also insufficient, and our elderly poverty rate remains consistently among the highest in the OECD. What else can people rely on? In Korea, having a single home of one's own has served as a retirement safeguard—something to sell later, downsize from, or use for a reverse mortgage.
[Kim Tae-hyun] A safe asset.
[Kim Jae-sub] It was that one safe asset, but they are cutting off access to it completely. Young people are left feeling anxious, wondering how long they must keep moving around and renting. Yet the government's solution is simply cramming in temporary shelters. I don't believe that is what the younger generation wants.
[Kim Tae-hyun] What if, instead of public rental housing, it provided young people an opportunity to build assets on the Yongsan Park site as you described?
[Kim Jae-sub] With that as a premise, as I said before, reconstruction—
[Kim Tae-hyun] So you mean Yongsan Park should still not be used as a site?
[Kim Jae-sub] Reconstruction and redevelopment must come first. Only if that proves insufficient should Yongsan be reviewed. I criticize them because they block the most effective and definitive means—reconstruction and redevelopment—and search for random alternatives. If the Lee Jae-myung administration had demonstrated sufficient will and capability to supply housing through reconstruction and redevelopment, there wouldn't have been this level of opposition to developing the Yongsan site.
[Kim Tae-hyun] Really?
[Kim Jae-sub] Naturally. But blocking reconstruction and redevelopment where it can be done immediately while pushing to develop the Yongsan site is what makes people angry.
[Kim Tae-hyun] That seems slightly different from Mayor Oh Se-hoon's position. Mayor Oh's point is that we must not exhaust future generations' resources just because immediate housing supply is needed, meaning damage to the park is strictly unacceptable. You mean that if all other options, including easing redevelopment and reconstruction, are exhausted and supply is still lacking, there is room for consideration?
[Kim Jae-sub] Naturally. However, if those prerequisites are met, there likely won't be any need to develop Yongsan. As I recall, the Moon Jae-in administration also attempted to develop the Yongsan district in 2020, but it ultimately failed due to various pushbacks and practical difficulties. Even if President Lee Jae-myung pursues developing the Yongsan district, it cannot possibly be completed within his term. It will inevitably be handed over to the next administration, and I don't think the next administration will be able to push it through either. It is bound to fail, and I believe it was announced haphazardly amid their 'panic supply' approach.
[Kim Tae-hyun] Understood. Let's look at internal party affairs. Party Leader Jang Dong-hyeok is reportedly pushing for the re-election of all local party chapter heads. Does that mean you must also seek confidence from party members at the end of August?
[Kim Jae-sub] Yes.
[Kim Tae-hyun] Must you do that to remain a chapter head, or risk being removed?
[Kim Jae-sub] That is what they say, but I think he is expending energy on something utterly useless.
[Kim Tae-hyun] Why?
[Kim Jae-sub] It feels like he doesn't have anywhere useful to direct his energy, so he's doing something very bizarre. Why re-elect all chapter heads? I find it hard to see the reason. Looking closely, it seems he calculated that the party members he controls or who support him will pick chapter heads tailored to his taste, making this an ideal way to line up chapter heads behind him. This disregards the entire local chapter system and represents an unrealistic dream of seizing full party control. I believe he is wasting energy in the wrong place.
[Kim Tae-hyun] Do you think that intention will ultimately fail?
[Kim Jae-sub] I'm not sure. If they hold re-elections, they will hold them.
[Kim Tae-hyun] But what if, as Leader Jang Dong-hyeok wants, twenty or dozens of chapter heads whom he considers thorns in his side—whether inside or outside the National Assembly—are replaced? That would be a success from his perspective. Do you believe that won't actually materialize?
[Kim Jae-sub] I think it will be difficult to materialize, and even if it does, I don't know what meaning it holds. Right now, Leader Jang Dong-hyeok keeps trying to push out those who disagree with him from party leadership and the party by any means possible. Initially, he targeted a few specific individuals with disciplinary measures, and now he is doing this to shape an overall pro-Jang current in the party. As I keep saying, I hope he stops wasting energy in the wrong place.
[Kim Tae-hyun] Floor Leader Jung Jeom-sik met with three-term lawmakers two days ago, and four-term senior lawmakers are also reportedly gathering. Reports say they discussed that heading into the next general election under Leader Jang's leadership would be difficult. It seems the senior lawmakers are uniting over the chapter head re-election issue. How do you view senior lawmakers stepping forward now? Are you relieved they are finally taking action?
[Kim Jae-sub] I think that perception has always been there steadily. Everyone except Leader Jang Dong-hyeok knows that we cannot go into the general election under his leadership. That consensus has always existed. After the election, we had several pending issues starting with the National Election Commission special counsel probe, and those are now wrapping up. On top of that, the Democratic Party's national convention has concluded, so the media and public opinion will look into the People Power Party once again. Looking at what Leader Jang is doing, people seem to feel that it is time to seriously discuss our direction.
[Kim Tae-hyun] Do you think this could lead to concrete action?
[Kim Jae-sub] Well, I don't know what specific action there could be. Veto sentiment against Leader Jang is already severe within the general meeting of lawmakers, so I cannot predict what action will emerge. However, the so-called cooldown period has fully elapsed.
[Kim Tae-hyun] Understood. We will wrap up here. That was Representative Kim Jae-sub of the People Power Party. Thank you.
[Kim Jae-sub] Thank you.
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※ Please note: This article was translated by AI and may contain errors.
