Jung Chung-rae, leader of the Democratic Party of Korea, said on the 20th that the country must solve the "ruinous real estate republic" problem and ensure universal housing rights for the public. The comment echoed recent messages from President Lee Jae-myung targeting owners of multiple homes.
At a Supreme Council meeting held at the National Assembly that morning, Jung said, "President Lee Jae-myung is stepping up day after day with the message that we will surely win the war on real estate," and stated accordingly.
He added, "Homes, which should be the basis of life and a refuge, have been distorted and degraded by speculative forces. Real estate is being passed down and the gap is getting out of control," and said, "President Lee's message is for a Korea where everyone prospers, and in an abnormal situation where financially powerful multiple-home owners lead the market, it is right to end the suspension of the heavy capital gains tax on sales."
Jung also said, "(President Lee) said the social evil lies not with multiple-home owners but with politicians who make it about money. That is an accurate point," adding, "Real estate must not become a target of speculation, and it must not become votes for politicians who exploit speculation."
He continued, "We will meet our responsibilities with action, not words. We will swiftly process the bill to establish a Real Estate Supervisory Service and take the lead in stabilizing housing for ordinary people through sufficient dwellings supply," stressing, "We will surely complete the task of resolving the real estate republic."
President Lee has been issuing messages day after day aimed at owners of multiple homes. On X (formerly Twitter) the same day, Lee said regarding extensions of loans for multiple-home owners, "It is fair only if it is the same as the lending regulations applied to new multiple-home purchases," adding that extensions and refinancing of existing multiple-home loans should be subject to the same rules as new loan regulations.