President Lee Jae-myung to Attend National Forum on Real Estate Policy

South Korean President Lee Jae-myung is set to directly participate in a national forum on real estate policy scheduled for June 23. The event aims to discuss the government's future direction for the housing market, with a particular focus on supply, financing, and taxation measures.

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The concerns of the people surrounding the real estate market have grown recently.

Leading up to the presidential forum, relevant government ministries, including the Ministry of Land, Infrastructure and Transport, the Financial Services Commission, and the Ministry of Economy and Finance, will host public discussions from June 14 to 16. These sessions are designed to actively solicit opinions from both experts and the general public on these critical real estate issues.

Kim Yong-beom, the Presidential Chief of Staff for Policy, emphasized the government's awareness of public anxiety surrounding the real estate market. "The concerns of the people surrounding the real estate market have grown recently," Kim stated during a briefing. He highlighted that the government is taking these concerns seriously and prioritizing residential stability in its policy reviews.

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The government has been pursuing policies centered on expanding supply and stabilizing the market.

The government has been pursuing policies centered on expanding supply and stabilizing the market. Kim confirmed that supply plans are proceeding without disruption and that necessary market stabilization measures are being implemented, citing the designation of land transaction permit zones in areas like Dongtan, Giheung, and Guri due to overheating concerns. Furthermore, the government is reviewing comprehensive tax reforms, including property and transaction taxes, based on research and international case studies.

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Real estate policy cannot be solely determined by the government's judgment.

Kim stressed that real estate policy cannot be solely determined by the government's judgment, acknowledging the dynamic market conditions and diverse public experiences. "The market conditions are constantly changing, and the difficulties felt by the public are varied. There will be voices from the field that the government has not yet considered," he said. The government intends to foster a collaborative process where solutions are co-created by the public and experts, beginning with these public discussions. An online platform will also be available for those unable to attend the forums, ensuring all feedback is considered in policy development.

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What is needed now is not for the government to unilaterally present answers, but for the public and experts to create solutions together.