Jang Dong-hyuk Calls for Withdrawal of Tax Increase Plan Targeting Homeowners

Jang Dong-hyuk, leader of the People Power Party, urged the government on August 4 to withdraw its proposed tax reform plan, calling it a "tax increase notice" that punishes both homeowners and non-homeowners.

During a press conference at the National Assembly, Jang criticized the government's approach, stating, "It is packaged as normalizing transactions, but the essence is clear. It is a punitive tax for owning a home. They cannot control housing prices but aim to target homeowners instead."

He further pointed out that the plan differentiates between homeowners based on whether they reside in their properties, significantly increasing the comprehensive real estate tax burden on those who do not live in their homes. "Even if someone temporarily lives elsewhere for their child's education, work, or medical care, their home is still their home. Yet, the government ignores these circumstances and demands higher taxes," he said.

Jang emphasized that the goal is not to stabilize housing prices but to fill the country's empty coffers with the wealth of its citizens. He described the policy as a "bad real estate policy" that imposes higher taxes on those who have worked hard to buy their homes while preventing properties from entering the market.

He also expressed concern that taxes paid by homeowners would ultimately lead to increased rent for tenants, making it even harder for young people and low-income families to afford housing. "The dream of homeownership is slipping away due to skyrocketing rents," he warned.

Jang predicted that the proposed measures would lead to further suffering for the public, stating, "A 'hellish reality' for citizens is unfolding. It is no wonder that the term 'jamdemic' has become popular among the people. President Lee has become the biggest risk for South Korea."

He added, "Taxes are not the solution to the real estate problem. Only expanding supply, including redevelopment and reconstruction, and truly normalizing the real estate market can resolve these issues."

Regarding President Lee's decision not to exercise his right to request a reconsideration of the criminal procedure law amendment, Jang criticized him, saying, "He signed a law that harms victims to erase his trial entirely. He is a president who only thinks of himself. 'Selfish Lee' is the name of the President of South Korea."

When asked about the possibility of a meeting with President Lee, Jang stated, "Even if the president proposes a meeting now, I would not attend. I believe there is no need for any dialogue with him, not even a meeting."

He questioned the effectiveness of past meetings between party leaders and the president, saying, "What has changed since then? All that has returned are laws and policies that cause the public to shed tears."