Strong confrontation over old real estate policy... Some lawmakers form 'Real Estate Pragmatism Group'

Ahead of the 2028 general election, various opinions erupted on the 11th regarding the direction of real estate policy within the Democratic Party of Korea.

Chun Jun-ho, senior vice-president of the National Assembly, requested to refrain from expressing individual opinions at the general meeting of lawmakers the previous day, but different opinions were raised depending on the region and route.

On this day, Democratic Party lawmakers Lee Eon-ju, Hwang Hee, Lee Su-jin, and Kim Jun-hyuk invited market experts and held a debate at the National Assembly under the name ‘Research group of real estate pragmatic lawmakers for stabilizing monthly rents of the Democratic Party.’ The constituencies of these lawmakers include Mok-dong in Seoul and Seongnam, Suwon, and Yongin in Gyeonggi-do.

Rep. Lee Eon-joo said, "We plan to comprehensively analyze and discuss the causes and solutions of the monthly rental crisis. The causes may include supply and demand issues in the rental market, distinction between actual residents and non-residents, tax issues, and lending issues to the common people. It may also be an issue with the land transaction permit system (Tohe system). We will consider which one is decisive and serious."

At the same time, he emphasized, "The overall direction is to stabilize the monthly rent, and whether it is necessary to solve the non-residential problem or the tax issue, let's put it on the table and discuss it without distinguishing ideology or faction, so we added the word pragmatism."

Rep. Kim Jun-hyuk said, "I agree with the Lee Jae-myung administration's real estate policy," but added, "I will listen to the opinions of many citizens about areas that are judged to be slightly lacking in the proper real estate policy process of the Lee Jae-myung administration, and that they would like to see this supplemented."

There was also an opinion expressed on this day within the party that it is important to stick to the principles of real estate policy.

Former Representative Chung Cheong-rae said on Facebook on this day, "The Lee Jae-myung administration's preferential policy for actual residents must be maintained," and "Sensitive real estate policies should not be discussed in a row, but the party, government, and the Blue House should coordinate behind the scenes and speak with one voice."

At the same time, he added, "I am opposed to relaxation and support the government plan," and added, "The appearance of bickering within the party over measures to ease the comprehensive real estate tax burden, such as raising the deduction standard to 1.4 billion won for non-residential homeowners as well as residential one homeowners, is not helpful."

Voices for stabilizing the jeonse and monthly rent markets also erupted from the ruling party.

Cho Kuk, director of the Innovation Policy Research Institute of the Innovation Party, pointed out on Facebook that day, "If the Democratic Party's argument is passed, comprehensive real estate tax will be completely exempted up to approximately KRW 2 billion regardless of residence status." He asked, “Will the working class and young people, who have to bear the recent rise in deposits and monthly rents, vote for the Democratic Party while witnessing these benefits?”