Former Rebuilding Korea Party leader Cho Kuk said on the 25th, "The Democratic Party of Korea and leader Kim Min-seok say they will even lift the burden of the comprehensive real estate tax on a non-resident's single home. We cannot help but ask whether this fits the identity of the Democratic Party."
Cho, the former leader, posted on Facebook the same day, saying, "The Democratic Party must not walk the path of tax cuts for the wealthy," and stated accordingly.
Cho, the former leader, said, "Already, under the Aug. 3 tax reform plan, the comprehensive real estate tax threshold has been rolled back from an official appraisal price of 1.2 billion won to 1.4 billion won (roughly a market price of 2 billion won)," adding, "If this threshold is applied, it is estimated that about 75,800 homes nationwide and about 56,900 in Seoul among the existing taxable stock will be excluded from the comprehensive real estate tax."
He went on, "As of 2025, of roughly 15.98 million total homeowners, about 3% of individuals paid the comprehensive real estate tax on dwellings, and only about 1% were single-household single-home owners," adding, "At this rate, the share of single-household single-home owners paying the comprehensive real estate tax will fall below 1%."
Cho, the former leader, also said, "We must establish a rational taxation base for high-priced dwellings. Since its enactment in 2005, the comprehensive real estate tax has been amended 28 times. Of course, systems can change with the times," but added, "If the exceptions are because of next year's possible Seoul mayoral election and the 2028 general election, those exceptions will come back as a backlash, not votes."
He continued, "The spirit of the comprehensive real estate tax is fairness. Its aim lies in 'realizing tax justice' itself, rather than in the total amount of revenue it brings," stressing, "Right now, the Democratic Party is listening only to the voices of those with economic power. The Lee Jae-myung administration should put top priority on policies that represent the voices of low-asset, low-income, and non-homeowning young people and tenants."
Democratic Party leader Kim Min-seok raised issues on the 23rd at a high-level party-government meeting with the government's tax reform plan to lower the basic comprehensive real estate tax deduction for a non-resident's single home from 1.2 billion won to 900 million won. In response, the government is reportedly reviewing readjustment measures, including restoring the deduction for a non-resident's single home to 1.2 billion won.