As the Democratic Party of Korea, the government, and the Blue House discussed a tax overhaul plan and measures to increase housing supply in the Seoul metropolitan area at a high-level party-government-presidential office meeting on the 23rd, they reached a consensus to transfer authority over redevelopment and reconstruction projects of 500 households or fewer to heads of basic local governments to speed up supply, and to expand the scope of recognizing residence for nonresident single-home owners. The Democratic Party said it also "strongly requested a plan not to distinguish between resident and nonresident in calculating the comprehensive real estate tax for single-home owners."
That day, Park Seong-jun, chief spokesperson of the Democratic Party of Korea, met with reporters right after the high-level party-government-presidential office meeting attended by party leader Kim Min-seok, Prime Minister Han Seong-sook, and Presidential Chief of Staff Kang Hoon-sik, and said, "The party and government formed a consensus on various opinions raised, including expanding recognition of residence in cases of unavoidable nonresidence."
Park, the chief spokesperson, added, "Regarding the comprehensive real estate tax, the Democratic Party strongly requested that there be no distinction between resident and nonresident for single-home owners."
Initially, the government's tax overhaul plan lowered the basic deduction for the comprehensive real estate tax for nonresident single-home owners from 1.2 billion won to 900 million won, limited reasons for nonresidence to schooling, job transfer, and caring for parents, and decided to recognize the residence period for up to three years.
Park also said that to speed up housing supply in the Seoul metropolitan area, "(the party, government, and presidential office) will improve the system so that authority can be given to heads of basic local governments for redevelopment and reconstruction of 500 households or fewer, reflecting the requests of Seoul district chiefs."
He added, "We also decided to actively discuss ways to ease regulations on private-sector redevelopment and reconstruction projects going forward."
However, he was guarded about the government's specific implementation plan to supply youth housing in Yongsan Park. He explained that the discussion focused on the overall housing supply in the Seoul metropolitan area rather than handling the special law amendment bill. Park, the chief spokesperson, said, "Today we discussed the overall supply plan," and, regarding the Yongsan Park Special Act amendment bill, added, "It is not at a stage for me to announce," noting, "There seem to be a few remaining issues on the floor that are causing debate."
Meanwhile, the government plans to submit a revised tax overhaul bill to the National Assembly in September, reflecting opinions raised at the high-level party-government-presidential office meeting that day.