The People Power Party criticized President Lee Jae-myung's directive on August 11 for a comprehensive review of the personal comprehensive asset management account (ISA) and the 'stock price suppression prevention law,' calling it a "hasty reversal." They urged for a rational preparation of various tax reform plans, including real estate taxation.
During a party strategy meeting at the National Assembly, Jung Jeom-sik, the party's floor leader, stated, "Our demand is to maintain policy consistency to enhance government trust and to carefully review important policies before their announcement." He also urged for swift measures to address the issue of unsold homes in local areas, given the decision to review the tax reform plan.
Seo Il-jun, the opposition's secretary of the Political Affairs Committee, noted, "Since the announcement of the tax reform plan, fears have spread among tenants in Seoul and Gyeonggi about the potential invalidation of their contract renewal rights." He criticized the Democratic Party leadership for raising the need to amend real estate tax policies, suggesting that the current policy was hastily prepared without sufficient review.
Jeong Dong-man, the opposition's secretary of the Land and Transport Committee, argued, "Suppressing the market will never stabilize the real estate market." He emphasized that instead of stifling demand with taxes and regulations, the government should facilitate private construction and allow citizens to prepare for homeownership.
Senior members of the People Power Party also voiced their concerns regarding the tax reform plan. Na Kyung-won took to Facebook, questioning, "Is the joint ownership tax for couples with one home a 'divorce incentive tax' that encourages divorce?" She called for a comprehensive review of what she deemed a significant infringement on citizens' property rights as guaranteed by the constitution.
Meanwhile, the People Power Party plans to invite Seoul Mayor Oh Se-hoon to their strategy meeting on August 14 to discuss responses to the government's tax reform plan and real estate policy issues.
During a party strategy meeting at the National Assembly, Jung Jeom-sik, the party's floor leader, stated, "Our demand is to maintain policy consistency to enhance government trust and to carefully review important policies before their announcement." He also urged for swift measures to address the issue of unsold homes in local areas, given the decision to review the tax reform plan.
Seo Il-jun, the opposition's secretary of the Political Affairs Committee, noted, "Since the announcement of the tax reform plan, fears have spread among tenants in Seoul and Gyeonggi about the potential invalidation of their contract renewal rights." He criticized the Democratic Party leadership for raising the need to amend real estate tax policies, suggesting that the current policy was hastily prepared without sufficient review.
Jeong Dong-man, the opposition's secretary of the Land and Transport Committee, argued, "Suppressing the market will never stabilize the real estate market." He emphasized that instead of stifling demand with taxes and regulations, the government should facilitate private construction and allow citizens to prepare for homeownership.
Senior members of the People Power Party also voiced their concerns regarding the tax reform plan. Na Kyung-won took to Facebook, questioning, "Is the joint ownership tax for couples with one home a 'divorce incentive tax' that encourages divorce?" She called for a comprehensive review of what she deemed a significant infringement on citizens' property rights as guaranteed by the constitution.
Meanwhile, the People Power Party plans to invite Seoul Mayor Oh Se-hoon to their strategy meeting on August 14 to discuss responses to the government's tax reform plan and real estate policy issues.
* This article has been translated by AI.
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