President Lee calls it “fake news” in the report that ‘the president’s remarks on housing prices only hit Gangnam’ (comprehensive)

On the 4th, President Lee Jae-myung introduced his real estate-related remarks and refuted an article with the title, "President's remark that 'housing prices are plummeting' only hit Gangnam," calling it "fake news."

The day before, during a cabinet meeting, President Lee said, "Actual transaction prices in major regions are dropping surprisingly. Of course, there are regions where this is not the case, but it is important to inform the public so that they can directly access this accurate data."

In response to this, an article with that title reported a response to the effect that it is difficult to feel a decline in housing prices, given that housing prices are on the rise in most areas of Seoul except for the three Gangnam districts (Gangnam, Seocho, and Songpa).

Then, President Lee posted a message on

He then refuted the title 'Only Gangnam was correct', saying, "This means that the reference to other regions was incorrect, but (even in my original statement) it is clear that I only mentioned the main regions of Seoul, namely Gangnam, Seocho, and Songpa."

He explained, "I never said, 'House prices across Seoul are plummeting,' so saying 'only Gangnam was hit' is fake news."

President Lee also requested, “I hope you will take a good look at objective data, such as the rapid increase in listings across Seoul, the sharp decline in transactions, the long-term significant decline in housing prices in major areas of Seoul, including Gangnam, and the increase in delinquency rates and number of auctions.”

President Lee later posted on social media, 'Is it true that the president said "house prices have fallen"? Mentioning a media report titled 'Seoul has risen for 90 weeks in a row', he said, "I pointed out the false article, and the title of the article was written, but the nuance is that the president said something different from the truth." (The actual statement was) 'House prices in major areas of Seoul are falling. Not in some areas.' Those are words that do not contradict the facts."

He added, “The statement that some major regions, but not all, are falling cannot be said in double quotation marks as ‘housing prices have fallen.’” He added, “It is true that house prices in Gangnam’s 3 districts have been falling significantly by more than 0.3% per week for over a dozen weeks.”

He said, “This is the second round of fake news, and I hope it will be corrected.”

The title of the article pointed out by President Lee has now been modified to 'Is it true that the President said, "Housing prices in major areas of Seoul have fallen"?'