Koo Yun-cheol, Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy, said in a radio interview on the 7th that he would "consider as flexibly as possible during the enforcement decree revision process the exceptional reasons that recognize as residence the period when a nonresident single-homeowner did not live in the home." He also said the recognized residence period would be capped at up to three years, but added, "We will review it once more."

Koo Yun-cheol, Deputy Prime Minister for Economy and Minister, delivers opening remarks at the Emergency Economic Headquarters meeting and the Ministers' Meeting on Economic and Structural Reform at Government Complex Seoul on the morning of the 6th in Sejong-daero, Jongno-gu, Seoul. /Courtesy of News1

Koo said this while answering a question about the exceptions that would recognize as residence the nonresidence period of nonresident single-homeowners, whose capital gains tax and comprehensive real estate tax burdens would increase under the "2026 tax reform plan," during a phone interview on MBC Radio's "Kim Jong-bae's Focus."

When the host asked, "How far can exceptions be considered?" Koo replied, "Schooling, job changes, illness, school transfers, overseas stays, caring for parents, and others," adding, "If there are reasons recognized as 'this is unavoidable,' we will try to see it from the public's perspective." He added, "After next year's law passes, we will revise the enforcement decree, listen more to the public's opinions, and review it as flexibly as possible."

He continued, "If someone says, 'What should we do when we are unavoidably in Jeju Island because of the kids' high school education?' or 'What about when working at an overseas branch?' we will fully reflect the public's opinions and recognize the period as residence."

According to the tax reform plan, the period recognized as an exception is also limited to up to three years. On this, Koo said, "If there are unavoidable exceptions, we will listen to the public and review this part once more."

Koo also hinted at the possibility of easing loan regulations. The host said, "(Even if listings come onto the market after this tax reform plan is announced,) only cash-rich people will be able to buy, so there are arguments that lending should be loosened." Koo said, "We are considering how to provide pinpoint support for young people, newlyweds, and housing-insecure low-income residents." He added, "Additional supply measures and financial measures are expected."

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