President Lee Jae-myung on Apr. 1 said that regarding a tax cut for long-term holding of a non-resident single home, "It is clearly excluded (from those subject to exclusion from the tax cut) when it is for residential use, not for gap investment, and there is a temporary non-residence due to unavoidable reasons such as the workplace." He then introduced an article saying that non-resident single-home owners are having trouble because it is difficult to put the house on the market for sale or for jeonse, and called for a correction of the article.
On the same day, Lee shared on X (formerly Twitter) an article titled "It's not for speculation… it's hard to sell, hard to lease, and hard to live in yourself." The article said that as the Lee Jae-myung administration reviews strengthening property taxes on non-resident single homes, people who moved for reasons such as children's education and therefore do not actually live there are expressing distress.
Regarding this, Lee said, "In the same in-depth feature, is it out of ignorance that you write, 'If it's not for speculation and someone cannot live there temporarily due to work or children's education, what are they supposed to do?' Or are you doing it knowingly?" adding, "The article is clearly contradictory, so please analyze it a bit more in depth and correct it."
Earlier, on Jan. 23, Lee wrote on X, "Not only for multiple-home owners but also for non-resident single homes, if they are for investment or speculation rather than residential use, it seems odd to reduce taxes just because of long-term holding," signaling a tax code overhaul for non-resident single homes. If it is not an actual residence, there is no need to grant tax benefits, he said.
Under the current special deduction for long-term holding, if a single household with a single home holds and resides in it for 10 years or more, up to 80% of the capital gain is deductible. Lee said that a system granting tax benefits to dwellings that are not lived in prevents listings from coming onto the real estate market, calling it "an encouragement of speculation."