Kim Yong-beom, Chief of Staff for Policy at the Presidential Office, stated today (June 24) regarding real estate supply measures that "we must build (housing) without hesitation" and that "special measures must be discussed."

Kim attended a Kwanhun Club debate held at the Press Center in Seoul today and emphasized that "the central government and the Seoul Metropolitan Government must put their heads together."

He noted, "There are arguments that greenbelts should not be touched, and that building housing in industrial districts like Yeongdeungpo is not feasible because Seoul needs to maintain its manufacturing base—these are valid points." He added, "But if we oppose everything, where are the young people supposed to live?" emphasizing the need for in-depth discussions to reconcile various interests.

He further added, "There are many closed schools, and we intend to scour every site owned by the public sector to see where housing can be built."

Regarding taxation, he explained, "Real estate accounts for the largest portion of citizens' assets, and taxes are also a significant topic," adding that they are "running hundreds of simulations (related to tax system reform)."

He stated, "We intend to listen to a wide range of opinions from those directly involved, including online parenting communities (mom cafes)," and added, "If necessary, we will go through public debates to make careful policy decisions."

When asked about how to fine-tune transaction and holding taxes, he explained, "It varies by country, and even in the United States, holding taxes differ by state," adding, "Considering the unique characteristics of each country's system, we intend to set (the rates in Korea) at a level that is acceptable."

Meanwhile, regarding the common perception that "housing prices rise under progressive governments," Kim emphasized that it is a "lazy observation" and far from the truth.

Kim explained, "Housing prices rose significantly during the Roh Moo-hyun administration, but this was influenced by factors such as a lack of supply during the process of overcoming the foreign exchange crisis under the Kim Dae-jung administration, and a record-breaking economic boom for four years around 2002."

He continued, "It is similar to the early days of the Roh Moo-hyun administration in that there is currently a supply cliff and a booming stock market," but added, "Viewing it simply through the lens of progressive versus conservative administrations is merely a simplistic observation."

(Photo: Yonhap News)