Blue House: "Strengthen the National Assembly, Adopt a Four-Year Presidential Term"... PPP: "Worry About Real Estate Instead"

[Financial News] The Blue House said on the 14th that a constitutional revision is needed to introduce a four-year presidential term with reelection, while strengthening the National Assembly's powers. The People Power Party criticized the move, saying the administration should focus on adjusting its increasingly controversial real estate policy.
It was reported that President Lee, through People Power Party lawmaker Kim Tae-ho, held a golf meeting with senior PPP lawmakers and said, "We should pursue a decentralized constitutional reform, even if it means shortening my term." The Blue House then stepped in and put forward a specific proposal for a four-year presidential term with reelection and stronger National Assembly powers. The move also appears aimed at dispelling recent controversy over alleged efforts to amend the Constitution for Lee's reelection.
The People Power Party, however, urged the administration to focus on real estate policy rather than constitutional reform. As public sentiment worsens over the real estate tax revision plan, lending restrictions, and housing supply measures, even voices within the ruling Democratic Party of Korea (DPK) are calling for adjustments.
PPP lawmaker Joo Jin-woo said, "The Blue House has directly raised the issue of constitutional reform. Is this really the time for that? They should worry about real estate instead." He added, "Because of failed real estate policy, young people's hopes of climbing the housing ladder have been cut off. The person in charge should be dismissed and the policy changed. But now that Lee Jae Myung's approval rating has plunged, is this just a constitutional reform card meant to divert attention?"
Joo also criticized the Blue House's proposal, saying, "It was the Democratic Party's legislative dictatorship and heavy-handed rule that ruined the economy and the judicial system, yet it is pathetic to make strengthening the National Assembly's powers the official position." He added, "This is nothing more than a trick to keep President Lee's power for a longer period. They seem to think they could end up in prison the moment they let go of power."

[email protected] Kim Yoon-ho Reporter