President Lee Orders Exclusion of Multi-Homeowners from Real Estate Policy

President Lee Jae-myung has issued a stern directive to ensure the integrity of real estate policy development by barring individuals with multiple property holdings from participating in any aspect of its creation. This decisive action underscores the administration's commitment to preventing conflicts of interest and ensuring that housing policies serve the public good, not private gain.

The president's instruction is clear: from the initial drafting to the final approval, anyone with a vested interest in the real estate market, particularly those owning multiple homes or high-value properties, must be excluded. This rigorous approach extends even to administrative support staff, with the president emphasizing that even those merely copying documents should not be multi-homeowners.

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We must ensure that people with real estate interests cannot infiltrate the process in any way. Even the staff who copy the documents should not be multi-homeowners.

This move reflects a broader strategy to reform housing policies and address concerns about market speculation and inequality. By creating a firewall between policy-making and personal real estate interests, the administration aims to foster a more equitable and stable housing market for all citizens. The thoroughness of the implementation, as overseen by various ministries and the presidential policy office, will be crucial in achieving these objectives.

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We are checking this by deputy ministers in each ministry. This includes the Ministry of Land, Infrastructure and Transport, the Ministry of Economy and Finance, the Ministry of Planning and Budget, the Financial Services Commission, and the Policy Office.