President Lee Jae-myung on the 13th raised the issue of fairness over an additional extension related to existing loan maturities for multiple home owners. Following his repeated statement that he will no longer extend the deferral of the capital gains tax surcharge on multiple home owners, which ends on May 9, he also signaled the end of financial benefits for non-residential dwellings. However, as with the end of the deferral, the Blue House said this does not mean an overhaul of the existing tax system.
That day, Lee posted on X (formerly Twitter) an article titled "How should we handle the existing loans of multiple home owners when they reach maturity?" and wrote, "It is difficult and challenging, but like all administration, finance must also be just and fair."
He added, "Even to solve the national task of stabilizing home prices, there is a problem with giving financial benefits for acquiring multiple homes for investment or speculation rather than owner-occupied housing," and said, "That is why the current lending regulations for multiple home owners are very strict."
In particular, after asking, "Is it fair to give only them additional benefits of loan extensions even when the loans have matured for multiple home owners who, despite being given years of opportunities including cuts to capital gains taxes, have held out without resolving their multiple homes?" he said, "People who follow the rules and respect social order must not be disadvantaged compared to those who break the rules in pursuit of undue profit."
Lee said, "To those who still think that holding out will solve things, let me say this. Korea is now moving toward a normal society where common sense and order are restored," adding, "The core of a normal society is ensuring that good people who follow the rules do not suffer losses, and that people who break the rules cannot profit. In a democratic society, fairness is the driving force of growth and development."
The government plans to soon begin work to identify the status of loans to multiple home owners. In a notice that day, the Blue House said, "The intent is to review and improve the situation in which loans to multiple home owners handled in the past are being extended as a matter of routine," and added, "Together with the financial sector, we will identify the actual conditions of loans to multiple home owners and swiftly review areas that need improvement."
Recently, Lee has been driving the issue on social media by listing specific tax systems. In addition to the capital gains tax surcharge on multiple home owners, he had mentioned one by one the special long-term holding deduction for "one non-residential home" and the sugar levy. However, the Blue House is focused on "reverting to the original," maintaining the stance that taxes are "the last resort." Blue House Senior Secretary for Public Relations Lee Gyu-yeon said on CBS Radio that day, "There is no place where we have overhauled the tax system. We only stopped the deferral," and added, "We have not imposed general lending regulations, and we have not used any institutional measure."