The Democratic Party of Korea leadership contenders presented different directions for real estate policy at a broadcast debate held on the 5th. Candidate Kim Min-seok argued that expanding the supply of dwellings is the fundamental issue, candidate Jung Chung-rae mentioned the role of the Korea Land & Housing Corporation (LH) in dwellings supply, and candidate Song Young-gil emphasized guaranteeing the special deduction for long-term holding.
Candidates Song Young-gil, Jung Chung-rae, and Kim Min-seok (in ballot order) each stated their positions on the real estate sector at the "second broadcast debate for party leader," held at KBS in Yeouido, Seoul, on the afternoon of the same day.
Kim, responding to Song's question to the effect that "there are concerns that rental listings will dry up due to a real estate tax overhaul," said, "In the end, the fundamental solution to the phenomenon of listings drying up is to firmly guarantee supply," adding, "That said, creating supply in Seoul and the greater metropolitan area is not easy. In Yongsan, the Seoul city government and the central government are coordinating, and the office portion should be reduced and residential use increased."
Jung said, "We pledged 1.4 million units during the presidential election, and among them LH should take the lead on 550,000 units. But LH is now facing a spin-off crisis," adding, "Starting by examining LH first is a very necessary policy for providing supply, and if there is no impediment regarding greenbelts or military facilities, we should ease regulations and build homes."
Song said, "Real estate cannot be completed by supply alone. We should ease real estate project financing (PF) to revitalize the construction economy," adding, "In particular, saying we will not allow people who maintain the special deduction for long-term holding while living elsewhere will make all jeonse listings disappear, and even if we supply, if we do not provide financial support, it will be a pie in the sky for low-income people without money."