Lee Jae-myung, leader of the Democratic Party of Korea, noted on the 17th that the proposed amendment to the leasehold law, considered as an early presidential campaign promise, was "undesirable." It has been five days since the party's people's livelihood council announced the law that guarantees the renewal rights for jeonse and wolse contracts for up to 10 years as a '20th people's livelihood issue.' This proposal is similar to the 'three leasehold laws' pursued by the Moon Jae-in administration, and concerns grew that it could become a negative factor for the 'real estate vote,' prompting Lee to take action.
On that day, Lee stated on social media that "the amendment to the leasehold law guaranteeing jeonse contracts for 10 years is neither an official party position that has gone through formal discussions nor a view I personally consider desirable." He added, "While ensuring the people's right to housing is a crucial duty of the state, it is difficult to achieve policy effects while going against market principles," and emphasized that "experts' concerns that this could dampen the private rental market and lead to disadvantages for tenants should be heeded."
He wrote, "I also mentioned at the people's livelihood council that the 20th people's livelihood issue is neither a priority task nor a campaign promise," and expressed the hope that "there won't be any more unnecessary controversies." The people's livelihood council is an organization co-chaired by Lee, where important policies are proposed by various sectors for review and potential adoption as presidential campaign promises by the party leadership. This is a rare instance of a party leader directly denying something that had been announced as a 'people's livelihood issue' in an official meeting.
It is widely believed that Lee's effort is a response to the consideration of 'negative factors for the presidential election.' The previous administration's 'three leasehold laws' remain a painful chapter for the Democratic Party. With the enactment of the two leasehold laws in July 2020, the number of tenants utilizing the renewal request rights has increased, while the supply of jeonse has decreased. Meanwhile, landlords seeking to collect four years' worth of increases at once have led to soaring jeonse prices. The opposition has analyzed that the real estate vote was a reason for the presidential election defeat. Lee lost the last election by a mere 0.7 percentage points.
There is also considerable dissatisfaction within the party. This stems from policies announced without coordination with the relevant committees ahead of the election. A Democratic Party official from the National Assembly's Land, Infrastructure and Transport Committee expressed concern, saying, "It feels like too many various things are being thrown out there." He insisted, "We absolutely cannot replicate what happened during the Moon Jae-in administration," adding that if multiple homeowners are labeled as criminals, they will inevitably lose again in the upcoming election. He further stated that "if lease extensions are implemented, landlords should be given tax benefits or alternative measures must be put in place to encourage homeowners to accept the system."