Chung Jeung-sik: "Seoul Housing Prices Hit 1 Billion Won in One Year of Lee Jae-myung Administration... Policy Must Be Completely Overhauled"

People Power Party Floor Leader Chung Jeung-sik urged a complete overhaul of the government's real estate policy today (June 16), stating, "The era of 1 billion won housing prices in Seoul, reached just one year into the Lee Jae-myung administration, is proof that the administration's real estate policy has been fundamentally flawed from the start."

"It is reported that Seoul's housing sale prices have surpassed 1 billion won for the first time in history. Jeonse (lump-sum housing lease) and monthly rent prices that ordinary people and young people have to bear have also risen to ruthless levels," Chung said during the floor strategy meeting held at the National Assembly today.

"The market situation is dire, but President Lee's perception of the situation is like seeing the 'Emperor's New Clothes'," he claimed. "During his first-anniversary press conference, President Lee engaged in self-praise, saying, 'If I hadn't suppressed it through verbal intervention starting in January, it would have skyrocketed tremendously,' and insisted that the rise in jeonse and monthly rent prices was 'not a massive surge'."

He also raised the issue of the government's consideration of regulations on jeonse loans for so-called "speculative non-resident single-home owners."

"Jeonse loans are a means to promote housing stability for those who do not own homes, and among non-resident single-home owners, there are office workers who need to find a place near their workplace and parents who have inevitably sought jeonse or monthly rentals for their children's education," Chung criticized. "Is it truly a rational policy to label them as speculators and impose regulations on them?"

Meanwhile, regarding the party leadership's decision the previous day to file an election petition concerning "polling stations with insufficient ballots" in six regions, including Seoul, Chung explained, "It was decided based on the belief that carefully examining the impact of the infringement of voting rights—such as the shortage of ballots—on the election results is in line with the principle of a fair election."

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