The Democratic Party of Korea (DPK) fired back today (August 6) against the People Power Party's (PPP) criticism of the government's tax reform bill, labeling it "fear marketing for political strife."

"The 2026 tax reform bill is the result of tax normalization efforts aimed at protecting the livelihoods of the public and reinforcing a virtuous economic cycle," Policy Committee Chair Han Jeong-ae said during a policy coordination meeting held at the National Assembly.

Regarding the real estate tax reform, Han stated, "It is designed to robustly protect genuine homeowners and enhance tax fairness. We have also provided a sufficient grace period so that citizens can take their time to adapt to changes in tax burdens that may arise during the tax normalization process."

On the government-announced "productive finance ISA (Individual Savings Account)," she argued, "Existing benefits will not be reduced, and reinvestment after contract expiration as well as simultaneous subscription to new ISAs will be allowed, thereby expanding investment opportunities and benefits. Support for marriage and childbirth has also been shifted from traditional tax credits to financial support so that everyone can receive assistance regardless of income level."

She went on to express "deep regret over the PPP's irresponsible political agitation," criticizing that "making false claims while knowing the truth is the height of irresponsibility, and spinning sophistry out of ignorance is a manifestation of shamelessness."

Cheon Jun-ho, senior deputy floor leader for operations, also claimed, "The PPP is distorting the government's real estate tax reform bill and stoking public anxiety. Fear marketing for political strife does not help the public at all."

He emphasized, "Only accurate information and responsible policy competition can protect market confidence and the housing stability of the public. The DPK will pursue a balanced real estate policy that firmly protects genuine homeowners while normalizing the tax burden on non-resident multiple homeowners holding properties above a certain value."

Floor Spokesperson Lee Ju-hee also released a written briefing today, saying, "The PPP dismissed the president's directive on supply measures as an 'excuse to slip away using out-of-body rhetoric.' They drove the narrative that there was no supply, but now that supply measures are being prepared, they call even that an excuse. Do they genuinely desire an expansion in housing supply?"

She added, "Core bills supporting the September 7 supply measures have been stalled in the National Assembly for nearly a year due to the PPP's lack of cooperation. Cooperate in processing these urgent livelihood legislation starting from the next plenary session."

(Photo: Yonhap News)