Bae Jun-young, a lawmaker from the People Power Party, criticized President Yoon Suk Yeol on August 6, stating that the president is pressuring citizens to be "good Samaritans."
During an appearance on KBS Radio's "Current Affairs," Bae said, "People view their homes as their most valuable asset and are willing to go to great lengths to secure or protect them, yet the president claims that 'housing is merely a place to live' and suggests that they should simply follow the tax measures as they are."
Bae expressed concern that the government's recently announced real estate tax reform would lead to several adverse effects. For instance, he noted that if non-resident homeowners decide to occupy their properties to avoid higher taxes, it would reduce supply in the real estate market, and any tax burden would largely be passed on to tenants.
"The president and the government have lied. They said they would only suspend the special taxation on capital gains for multiple homeowners until May, but now they are extending it for another two years. Will people sell their homes under these conditions?" Bae questioned, adding, "Similarly, they will not bear the tax burden themselves and will pass it on to tenants."
He emphasized that tax reform significantly impacts citizens' lives and requires clear objectives and public understanding. "However, they are merely using phrases like 'normalization of taxation' and 'fair taxation' without substance," he asserted.
Bae also referenced the previous administration's increase in property taxes, which led to soaring rental prices, warning that the new measures targeting high-value properties and multiple homeowners would severely affect the housing market and rental sector. "Ultimately, it will harm tenants, non-homeowners, and young people," he predicted.
Regarding real estate supply measures, he stressed the need for a "private sector-led expansion." He remarked, "The government is trying to lead public rentals, but the Korea Land and Housing Corporation (LH) is struggling. Therefore, rentals should be managed by the private sector, but all related benefits have been eliminated."
Bae questioned the logic of building numerous apartments and residential facilities in the metropolitan area while claiming to reduce its population. "Even aside from that, residents in the metropolitan area need green spaces and areas to breathe. It is not right to suggest that constructing only apartments is the ultimate solution," he argued.
During an appearance on KBS Radio's "Current Affairs," Bae said, "People view their homes as their most valuable asset and are willing to go to great lengths to secure or protect them, yet the president claims that 'housing is merely a place to live' and suggests that they should simply follow the tax measures as they are."
Bae expressed concern that the government's recently announced real estate tax reform would lead to several adverse effects. For instance, he noted that if non-resident homeowners decide to occupy their properties to avoid higher taxes, it would reduce supply in the real estate market, and any tax burden would largely be passed on to tenants.
"The president and the government have lied. They said they would only suspend the special taxation on capital gains for multiple homeowners until May, but now they are extending it for another two years. Will people sell their homes under these conditions?" Bae questioned, adding, "Similarly, they will not bear the tax burden themselves and will pass it on to tenants."
He emphasized that tax reform significantly impacts citizens' lives and requires clear objectives and public understanding. "However, they are merely using phrases like 'normalization of taxation' and 'fair taxation' without substance," he asserted.
Bae also referenced the previous administration's increase in property taxes, which led to soaring rental prices, warning that the new measures targeting high-value properties and multiple homeowners would severely affect the housing market and rental sector. "Ultimately, it will harm tenants, non-homeowners, and young people," he predicted.
Regarding real estate supply measures, he stressed the need for a "private sector-led expansion." He remarked, "The government is trying to lead public rentals, but the Korea Land and Housing Corporation (LH) is struggling. Therefore, rentals should be managed by the private sector, but all related benefits have been eliminated."
Bae questioned the logic of building numerous apartments and residential facilities in the metropolitan area while claiming to reduce its population. "Even aside from that, residents in the metropolitan area need green spaces and areas to breathe. It is not right to suggest that constructing only apartments is the ultimate solution," he argued.
* This article has been translated by AI.
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