Is 'real estate investor' Han Sung-sook fit to be Prime Minister?
Translated from Korean, summarized and contextualized by DistantNews.
At a glance
Opinion
Named sources
Context piece
- The article criticizes President Lee Jae-myung's view of wealth, particularly his labeling of property owners as "devils" and his focus on high housing costs as the sole cause of declining birth rates.
- It questions the suitability of Han Sung-sook, a nominee for Prime Minister who previously owned four properties, for the role, highlighting her recent sale of assets to appear as a one-house owner.
- The piece argues that the government's housing policies, which prioritized regulation over supply, are responsible for soaring housing costs and that officials who implemented these policies should be held accountable.
The nomination of Han Sung-sook as Prime Minister has ignited a fierce debate, largely centered on President Lee Jae-myung's strong stance against property ownership and Han's own history as a multi-property owner. The article critiques the President's rhetoric, which labels those with wealth, particularly homeowners, as "devils" responsible for societal ills like declining birth rates.
This is a very obvious move, only two days before the confirmation hearing. You may have escaped the 'devil' by President Lee's standards, but by the public's standards, you are a devil of power.
President Lee's assertion that "money is the devil" and that it appears in the guise of an angel has been met with skepticism. The article questions this framing, particularly when applied to individuals who have legally accumulated wealth and paid their taxes. It points out the irony of Han Sung-sook, who previously owned four properties, appearing before a parliamentary hearing after selling off most of her assets to present herself as a single-property owner. Critics argue this move is a transparent attempt to appease the President's anti-wealth sentiment.
The piece further challenges the notion that selling multiple properties would significantly lower housing costs or alleviate the burden on young people struggling with marriage and childbirth. It argues that the core issue lies not with individual property owners, but with government policies that have focused on regulation rather than increasing housing supply. The article suggests that officials responsible for these policies, which have led to soaring property prices and a scarcity of rental housing, should be the ones offering apologies.
The government's policies that pursued only regulation without supply have led to skyrocketing housing prices and have dried up the market for jeonse and monthly rent, causing young people to shed tears.
Beyond the property ownership debate, Han Sung-sook faces scrutiny over her past business dealings. Her involvement with "Surim," a real estate rental business established to gain tax benefits, and the alleged neglect of illegal construction on a property leased to her siblings, raise questions about her adherence to regulations and public service ethics. The article implies that such actions, coupled with delays in addressing illegal structures and a past personal information hacking incident at Naver when she was CEO, cast doubt on her suitability for the high office of Prime Minister.
Why is it that after all this time, we are only now hearing calls to 'just build' from Kim Yong-beom, the chief policy officer, who suddenly appeared on the 24th?
DistantNews Editorial
Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.
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