Kim Min-seok, the leader of the Democratic Party, stated on November 12 that the fundamental principle of the party's real estate policy should be consistency, distancing himself from proposals to ease the basic deduction for the comprehensive real estate tax.
During an appearance on the party's YouTube broadcast 'Minty 07,' Kim said, "There seems to be a misunderstanding that the opinions expressed during the recent high-level party-government meeting were official party recommendations, but that is not the case."
He clarified that discussions regarding the basic deduction for the comprehensive real estate tax did not take place during a dinner meeting with President Lee Jae-myung and floor leader Han Byeong-do the previous day.
The government is considering expanding the basic deduction for the comprehensive real estate tax for homeowners living in their properties from 120 million won to 140 million won. Within the Democratic Party, particularly among lawmakers from the metropolitan area, there are calls to unify the basic deduction for non-resident homeowners, currently set at 120 million won, to 140 million won regardless of residency status.
Regarding the dinner meeting, he noted, "We discussed the budget and the economy extensively, including how to address the relatively low private consumption rates that do not align with overall economic indicators."
Additionally, he expressed a desire for President Lee to meet with lawmakers more frequently and mentioned plans for a gathering of the president and all lawmakers in the near future.
* This article has been translated by AI.
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