Ruling party leader slams government real estate forum as 'one-sided party'

The leader of South Korea's ruling party sharply criticized a government-organized real estate forum, calling it a "nonsensical party" where the president only heard what he wanted from his supporters.

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It was a nonsensical party where (the president) only said what he wanted, surrounded by supporters who cheered for the government's real estate policies.

During a policy discussion, the party leader stated that if the administration refuses to alter its real estate policies, the public will be forced to change the government. He warned that the people would "drag down the administration" if things continue on the current path.

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If the administration has no intention of changing its policies, the people will have no choice but to change the administration.

The leader also scrutinized the former president's recent sale of his apartment in Bundang. He suggested the sale was an urgent move to avoid the upcoming "property tax bomb" and the abolition of long-term holding special deductions. The leader pointed out the irony of the former president advocating against loans for housing price increases while facilitating an interest-free loan for the buyer of his own property.

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Looking at yesterday's forum, I can clearly see why President Lee was so hasty in selling his Bundang apartment.

He accused the former president of acting with privilege, implying a double standard where ordinary citizens face burdens while he benefits from special arrangements.

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While claiming loans are the cause of housing price increases, he himself sold the house by providing interest-free loans to the seller.