Cheong Wa Dae said on the 27th that President Lee Jae-myung has put up for sale an apartment in Bundang-gu, Seongnam, Gyeonggi Province, which he co-owned with first lady Kim Hea-kyung. The opposition, including the People Power Party, had earlier demanded that he dispose of it, saying, "Are you insisting that only the president's own lottery apartment is normal?" and he has in fact decided to sell.
Kang Yu-jung, Cheong Wa Dae Spokesperson, said in a notice to the press that afternoon, "President Lee was a single-home owner for actual residence, but the intention is to show the public firsthand his resolve to normalize the real estate market," adding, "The apartment in question was listed at a price lower than last year's actual transaction price and the current market price."
President Lee has said that, as a measure to normalize the real estate market, he would create a situation where it is more advantageous to sell than to hold not only for "multiple-home owners" but also for "single-home owners for investment or speculation," and has repeatedly previewed the following: ▲ ending on May 9 this year the temporary relief from the heavy capital gains tax on multiple-home owners (exemption from the surcharge if the balance payment and registration are completed within six months from the contract date, limited to newly designated regulated areas) ▲ ending and reducing the special long-term holding deduction for non-residential single homes.
In particular, on X (formerly Twitter), he has posted several strong warning messages against "holding out and keeping." In the process, he engaged in a war of words with People Power Party leader Jang Dong-hyeok and used phrases such as "devil" and "kindergarten-level comprehension ability" aimed at some media and opposition parties that conveyed the views of multiple-home owners.
President Lee also said on X the day before that "ultra-high-priced dwellings will face corresponding burdens and regulations on par with those in the capitals of advanced countries." He said, "Various regulations and burdens will be based on a single home for actual residence, with fine-tuned weightings according to whether it is used for residence, the number of homes, home price levels, details of regulations, and regional characteristics," adding, "We will actively protect ordinary residence but design the system so that investment and speculation using homes are thoroughly blocked."
President Lee wrote, "The Lee Jae-myung administration will, through strong finance, taxation, and regulation, create a situation in which even after May 9, 2026, it is beneficial for multiple-home owners to sell while bearing the heavy capital gains tax (and more damaging to have held out). And it has to be that way," adding, "Lee Jae-myung gets it done. What is said is kept."
◇ Tenant in residence… Lee: "It is more profitable to sell at the peak and buy again"
According to a Cheong Wa Dae official, President Lee recently told his aides to the effect that "isn't it more profitable to sell the house now at the peak and buy a house again at a lower price after leaving office?" The official said, "He seems to have listed it because he judged that holding would be more of a loss," adding, "It appears he thought it would be economically advantageous to put the proceeds from the house into ETF investments or other financial investments." A tenant is reportedly living in the apartment in question.