Han Byung-do Says He Will Supplement Lee Jae Myung Administration's Real Estate Policy

[Financial News] Han Byung-do, acting leader and floor leader of the Democratic Party of Korea (DPK), said on the 5th that he would prepare supplementary measures for the Lee Jae Myung administration's real estate policy. The move appears to reflect growing public discontent over housing in the Capital Region after the announcement of the tax revision plan.
At a Supreme Council meeting held at the National Assembly that day, Han said, "Based on the voices of the people and specific cases from the field, we will also roll up our sleeves to prepare the necessary supplementary measures."
He added, "The Democratic Party will mobilize all relevant standing committees in the National Assembly to expand, reorganize and operate the housing market stabilization task force (TF)." He said, "The Land, Infrastructure and Transport Committee and the Public Administration and Security Committee, as well as the Strategy and Finance Committee of the National Assembly and the National Policy Committee, will participate so that we can carefully monitor the overall real estate market over the long term."
He also defended the government, saying the real estate tax reform was not simply a measure to control home prices. Han explained, "It is a fair and reasonable process of normalizing the tax system to protect actual homebuyers and correct a distorted tax structure," adding, "We will protect one-home owner-occupiers as much as possible, while normalizing the tax burden on ultra-high-priced homes and non-resident multiple-home owners in line with tax fairness."

[email protected] Kim Hyeong-gu Reporter