Real Estate Policy Should Normalize Loans, Not Raise Taxes, Says Reform Party Leader

Lee Jun-seok, leader of the Reform Party, has asserted that South Korea's real estate policies should prioritize the normalization of loans over tax increases. Speaking at a press conference on Tuesday, Lee argued that existing loan regulations are unfairly targeting young generations and individuals seeking to purchase homes.

"The government's loan regulations are the opposite of targeted cancer therapy; they selectively target young people who need housing," Lee stated during a supreme council meeting. He pointed out that a significant portion of the feedback submitted to the government's real estate policy consultation website called for easing loan restrictions.

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The government's loan regulations are the opposite of targeted cancer therapy; they selectively target young people who need housing.

Lee criticized the current system, noting that individuals with substantial cash reserves could still purchase homes, while those reliant on loans, particularly young people, were left unable to enter the market. He emphasized that the accumulated regulations over the past year should be dismantled as the correct prescription for the market.

"If you use a stethoscope properly, you will find that removing the regulations built up over the past year is the right prescription," Lee said. He urged the government to first provide relief for newlyweds and individuals who have forfeited their down payments before considering any new measures. The party leader's remarks come ahead of a national debate on real estate policy hosted by the President.

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If you use a stethoscope properly, you will find that removing the regulations built up over the past year is the right prescription.