President Lee Says "'Gangnam Invincibility' and 'Real Estate Speculation Republic' Will Become Things of the Past"

President Lee Jae-myung stated, "'Gangnam invincibility' and a 'republic of real estate speculation' will now become things of the past. And it must certainly be so."

President Lee wrote this on his social media today (September 22) while sharing a post introducing the government's announced "Housing Stability Plan."

The plan entails supplying an annual average of 240,000 public housing units, including public sales and rentals, through 2030, as well as introducing "universal public rental housing" with larger floor plans to accommodate diverse demands.

President Lee is currently traveling to the United States and Mexico to attend the United Nations General Assembly, and he posted the message immediately upon arriving at JFK Airport in New York.

This is seen as demonstrating his strong determination to implement real estate policies, as President Lee had also emphasized stabilizing the housing market during a press conference last week.

During that previous press conference, President Lee said, "Moving South Korea away from being a republic of real estate speculation and a real estate republic is this administration's most central task," adding, "It is difficult, and while everyone tried and failed, what I can clearly tell you is that this administration will do it."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.