President Lee Jae-myung on the 12th shared a news article on X (formerly Twitter) saying the government is reviewing loan restrictions on non-resident single-home owners, writing, "Achieving zero real estate speculation through normalization of taxes, finance, and regulations is entirely possible and also something we must do."
At about 11:19 a.m. that day, Lee shared a news article on X and wrote, "Strengthening productive finance is an unavoidable path," adding, "When people make money by speculating in real estate with other people's money, those who work hard lose motivation."
The article said the government is reviewing a regulatory plan to ban new jeonse loan guarantees for non-resident single-home owners and to disallow maturity extensions on existing loans.
According to Korea Housing & Urban Guarantee Corporation (HUG) and Seoul Guarantee Insurance Company, the guaranteed amount of jeonse loans for holders of one or more dwellings totaled 1.39395 trillion won as of last year. Since jeonse loans for owners of two or more dwellings have been banned since 2018, a large share of this can be seen as jeonse loan guarantees for single-home owners.
President Lee Jae-myung wrote on X on Feb. 27 that "even for a single home held for investment rather than residential use, we will create an environment where selling is more advantageous than holding."