Song Young-gil calls rival's analysis of approval ratings 'quackery,' blames real estate

Song Young-gil, a contender for the leadership of the Democratic Party, sharply criticized rival Jung Chung-rae's claim that a decline in presidential approval ratings stemmed from core supporters turning away. Song dismissed Jung's assertion as the "prescription of a quack doctor," arguing instead that the drop is mainly attributable to the government's mishandling of real estate policies and the stock market.

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The middle class has moved away, causing the (national approval rating) to drop, not because core supporters (turned their backs) and support declined.

Appearing on KBS radio, Song countered Jung's earlier statement on a YouTube broadcast, where Jung suggested that core supporters had "turned their backs," leading to a decrease in President Lee Jae-myung's approval. Jung had further predicted that his own election as party leader would boost the president's approval by over 10%. Song insisted that while some core supporters might have disengaged, the primary issue lies with "handling real estate poorly."

Song elaborated that the government's proposed changes to long-term holding special deductions for real estate and restrictions on mortgage lending are key factors. He likened the situation to a stock market downturn caused by leveraged ETFs, concluding that "these two things (real estate and stock market decline) are the cause of the decline in Lee Jae-myung government's approval."

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The core issue is the problem arising from handling real estate poorly. There is a general argument not to touch real estate taxes.

Furthermore, Song accused Jung of adopting the platform of the Cho Kuk Innovation Party. This accusation followed Jung's response during a televised debate when asked about President Lee Jae-myung's top national task. Jung's answer, "ending the rebellion," prompted Song to question Jung's awareness of crucial issues like enshrining the May 18th spirit in the constitution, a key pledge for the Gwangju and Jeonnam regions. Song pointed out that "ending the rebellion" was a primary pledge of the Cho Kuk Innovation Party.

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You were a candidate for the leader of the Cho Kuk Innovation Party, weren't you? You didn't know that enshrining the May 18th spirit in the constitution, the No. 1 national task for our Gwangju and Jeonnam citizens, was the No. 1 national task? It's absurd.