Jin Seong-jun: Housing Policy Failed From Lack of Consistency, Not Taxes

Politics is ultimately about choices.
But those choices are not simply for or against something. They decide who bears the burden and where resources go.
Jin Seong-jun, a lawmaker from the Democratic Party and chair of the National Assembly’s Special Committee on Budget and Accounts, operates at the center of those decisions. In an interview, he did not frame fiscal policy as a matter of numbers. He repeatedly returned to “philosophy,” arguing that budgets reflect value judgments and that politics is the process of persuading the public.
Across topics — housing policy, pensions, low birthrates and an AI industry strategy — his answers converged on one standard: “Does it help the public, and is it affordable?”
 
■ Housing is not a tax issue, but a consistency issue
 
Asked to assess past governments’ housing policies, Jin said debate has largely centered on taxation — claims that holding taxes were excessive or regulations too strict. He said the bigger problem was the outcome: “They failed to bring down home prices.”
“Policy takes time to show results,” he said. “But before those effects appeared, the direction changed, and the market stopped trusting the signal.”
He argued that markets respond less to the details of a policy than to confidence it will be sustained. He called the failure a political problem.
“In a structure where policy changes every time the administration changes, the market cannot stabilize,” he said. “In the end, politics has to bear that burden.”
 
■ Politics is not a technique for abandoning principles
 
On the difficulty of sticking to principles, Jin said politics constantly forces choices between principle and reality, and that politicians have often leaned toward short-term considerations.
“Ahead of elections, policies that feel burdensome get postponed, and policies that draw an immediate positive reaction get chosen,” he said.
He warned that when politics becomes consumed by short-term reactions, long-term balance breaks down.
“Politics is a process of persuasion,” he said. “Even if people feel uncomfortable in the short term, if a policy is necessary, you have to explain it to the end and ask for understanding.”
 
■ Fiscal policy is not about equal division, but judgment
 
Asked what standard he applies to budgets, Jin said fiscal policy is not about distributing resources evenly across all areas, but deciding where limited resources should go first.
“Some areas are more urgent, and some are less urgent,” he said.
He described budgeting as a matter of fairness in decision-making, not simple equality, and said politics must make those choices and take responsibility for them.
 
■ Fiscal policy is about future generations
 
Jin said the most important standard in fiscal policy is to look to the future.
“Fiscal policy is for the present, but the results carry into the future,” he said. “Today’s choices become the next generation’s burden.”
He cited pensions as a representative case, arguing that cutting benefits to reduce today’s burden can return as a larger burden later.
 
■ On low birthrates: Change the structure, don’t cut welfare
 
Asked how to address low birthrates and an aging population, Jin said reducing welfare is not a solution.
“Everyone reaches a point where they have to rely on welfare,” he said. “So an approach that says to cut welfare is not realistic.”
He called for redesigning burdens — increasing contributions when society can afford it, expanding productive activity and adjusting institutions. He said the issue requires social consensus and cannot be solved by politics alone.
“This is a matter that needs a social agreement,” he said. “Even if it takes time, we have to build that agreement.”
 
■ “Now is the time for fiscal policy to move first”
 
On assessments that the state’s role is growing, Jin said the economic environment is changing sharply, with stronger protectionism, intensified technology competition and an energy transition unfolding at the same time.
He said the role of fiscal policy should shift from mainly indirect support to direct investment.
“In areas where the private sector finds it hard to invest, the state has to step in first,” he said. “Fiscal policy has to serve as seed money.”
 
■ On AI: “If you fall behind, the gap gets bigger”
 
Jin said AI is not just one industry but the foundation for all industries. He argued that being a latecomer does not eliminate opportunity, and said competitiveness remains possible, especially in manufacturing and applications.
He stressed speed, warning that gaps can widen over time.
“That’s why the state has to invest first,” he said. “If you follow from behind, it’s hard to compete.”
 
■ “Politics that won’t talk about tax hikes is avoiding responsibility”
 
Asked about expanding fiscal spending and raising taxes, Jin said the issue cannot be avoided.
“If you expand fiscal policy, you ultimately need revenue,” he said. “But politics tries to avoid talking about taxes.”
He criticized that stance and said politicians must persuade the public by explaining why it is needed and showing how the money will be used.
 
■ What is politics?
 
Asked to define politics, Jin said it does not end with a single decision.
“As Max Weber said, it is like drilling holes through a hard board,” he said. “Slowly, but pushing through to the end.”
He said politics is less about speed than persistence, and that persistence ultimately depends on trust.
 
The interview was less a tour of policy details than a statement of political standards. While the topics ranged from housing and budgets to pensions and industrial policy, Jin returned to one test: Does it help the public, and can the country afford it?
 
: Jin Seong-jun : A Democratic Party lawmaker who serves as chair of the National Assembly’s Special Committee on Budget and Accounts and is described as a fiscal and policy expert. He has worked in the presidential office, including in the senior secretary’s office for political affairs and the office handling national affairs, and in the National Assembly he has focused on the Strategy and Finance Committee and the budget panel, building expertise in tax and fiscal policy. He has emphasized fair taxation and the role of fiscal policy, presenting “a balance between the public’s burden and the state’s responsibility” as a key standard across housing, pensions and industrial policy. He has consistently argued that fiscal policy is not just numbers but a national choice and philosophy, and that politics should prioritize long-term sustainability over short-term popularity.
 



* This article has been translated by AI.

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