President Lee Jae-myung defended the government's decision to maintain the basic exemption for the comprehensive real estate tax for non-resident homeowners at 12 billion won, amid criticism that this represents a 'regressive reform.' He argued that the entire tax reform plan should be considered.
On the night of September 2, President Lee posted on X (formerly Twitter), stating, "There are criticisms about inconsistency and regressive reform."
The government had initially planned to lower the basic exemption for mid-priced non-residential single homes to 9 billion won but decided to keep it at the current 12 billion won. The annual limit on the increase in property tax burden was also set to remain at 150%, rather than increasing to 200% as previously proposed.
President Lee pointed out that the criticism overlooks changes to property taxes for high-value non-residential single homes and multiple or ultra-high-value properties. He explained that the assessment fails to consider the reduction in capital gains tax exemptions for non-residential single homes and ultra-high-value or multiple homeowners.
He stated that only the proposal to raise the property tax burden limit to 200% is just, and maintaining the current 150% cannot be deemed unjust.
"It is merely a matter of policy choices that reflect preferences," he emphasized.
President Lee urged critics not to focus solely on aggressive claims but to examine the entire tax reform plan. He also called for an analysis of the reasons behind the sharp decline in housing prices in areas like Gangnam.
He questioned, "If we had maintained the 12 billion won and 150% from the beginning, would there have been no criticism?"
He added, "Although we live in an era of post-truth, I hope we can restore true politics that centers on the nation and its people, competing on what best serves the national interest, rather than engaging in falsehoods, incitement, and unconditional criticism. Proper politics and competition to do well are urgently needed now."
On the same day, President Lee shared articles discussing the increase in exports, outlining the government's growth targets.
He remarked, "The current export achievements are the result of business leaders, workers, and public officials working together with a unified effort," and described the situation as a 'remarkable transformation' compared to when he took office last year.
However, he acknowledged that there is still a long way to go, stating, "We must strive to return to a potential growth rate of 3% and achieve a national income of $50,000."
According to the export-related article shared by the president, last month's exports totaled $98.25 billion, a 68.7% increase compared to the same month last year. Exports have exceeded $90 billion for three consecutive months.
From January to August this year, cumulative exports reached $693.4 billion, accounting for 97.7% of last year's total annual exports of $709.3 billion. If an additional $306.6 billion is exported in the remaining four months, the annual export figure will surpass $1 trillion for the first time.
* This article has been translated by AI.
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