The People Power Party on the 26th demanded that President Lee Jae-myung fully withdraw the Oct. 15 real estate measures and issue a public apology.
Chief Spokesperson Choi Bo-yun said in a commentary that "as President Lee accepted the resignation of former Vice Minister of the Ministry of Land, Infrastructure and Transport Lee Sang-kyung, he is trying to cover up the 'Oct. 15 real estate disaster' with the resignation of a single vice minister," adding, "This is not something that ends with the dismissal of one vice minister. President Lee should personally apologize to the public."
Chief Spokesperson Choi singled out Presidential Chief of Staff for Policy Kim Yong-beom, Deputy Prime Minister for the Economy Koo Yun-cheol, and Financial Services Commission (FSC) Chair Lee Eog-weon, and criticized, "They shouted to the public, 'We will cut loans and block speculation,' while they themselves grew their real estate."
Calling them the "three real estate hypocrites," Choi said, "President Lee should immediately dismiss the trio."
Spokesperson Lee Chung-hyeong also said in a commentary, "As reversals and errors surrounding the Oct. 15 real estate measures pile up, market confusion has only grown," adding, "Discord and mistakes between the ruling party and the government over the holding tax and the loan-to-value (LTV) ratio, and their dithering confusion, are further fueling market anxiety. That is why the public cannot trust the ruling party's sincerity about expanding supply."
The spokesperson said, "Regulation without supply is nothing but a socialist-style 'market crackdown,'" and urged, "Withdraw the hasty measures that put people's lives on the testbed and produce practical supply measures that can give low-income people and those without homes the hope of 'one small home of their own.'"
The party also pushed back against the Democratic Party of Korea's counterattack over People Power Party leader Jang Dong-hyeok owning six real estate assets.
Spokesperson Cho Yong-sul argued in a commentary, "The attitude of figures in the Lee Jae-myung administration seems mired in the arrogance of a real estate caste system that says, 'It's allowed for me, not for you,'" adding, "Even after the bad news from former Vice Minister Lee's gap investment, hiding behind anonymity to sneer at the opposition leader exposes their cowardice."