![\"President](\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/08\/rcv.YNA.20260828.PYH2026082810400001300_P1.jpg\")
\uc0ac\uc9c4 \ud655\ub300 President Lee Jae Myung speaks at the ‘Youth Budget Unboxing 2027’ event held at Cheong Wa Dae on the 28th. [Blue House Press Photo Reporters] <\/p>\n \uc0ac\uc9c4 \ud655\ub300 President Lee Jae Myung speaks at the ‘Youth Budget Unboxing 2027’ event held at Cheong Wa Dae on the 28th. [Blue House Press Photo Reporters] <\/p>\n
President Lee Jae Myung said he would “break down real estate speculation at all costs” and mobilize all national capabilities to reform the financial and tax system and expand housing supply. In particular, the Bank of Korea issued a warning against unconditional expectations for a rise in housing prices, citing some predictions that the benchmark interest rate could rise to 3.5% next year.<\/p>\n
On the 30th, President Lee wrote on X (X, former Twitter), “We will definitely correct the unfair and unreasonable tax system that has been found to encourage speculation, even in terms of tax justice.”<\/p>\n
“For the hopes of the next generation, the real estate speculation ‘bomb-spinning’ and the risk of 30 years lost must be eliminated,” he stressed.<\/p>\n
Amid recent calls for easing the government’s tax reform plan, including the need to expand the scope of non-resident single-home owners’ recognition of “unavoidable non-resident reasons,” it seems to have emphasized that the will to reform to stabilize the housing market remains unchanged.<\/p>\n
It also announced that it would speed up the expansion of supply. “Early expansion of housing construction must be implemented,” President Lee said. “In the main metropolitan area and Seoul, housing licensing and construction have plunged for more than three years since 2022, and we will give incentives to early licensing and construction, such as granting the head of the district office the right to license less than 500 households.”<\/p>\n
President Lee also said, “Some media criticize the government’s policy of increasing the total amount of loans while tightening the finance, but this may be done purposely to incite the people and attack the government,” adding, “It is a tweezers policy that should expand finance to increase housing supply or increase loans for real users such as young people.”<\/p>\n
We will increase supply as quickly as possible as the Minister of Land, Infrastructure and Transport said, adding, “The Prime Minister is checking the progress every day and Cheong Wa Dae is conducting regular inspections.”<\/p>\n
President Lee also mentioned, “Those interested in real estate speculation should pay particular attention to the ‘expected 3.5% interest rate by the Bank of Korea in the first quarter of next year’ in the media article.”<\/p>\n
President Lee said, “The government is not involved in interest rates, and they are not allowed to be involved,” but stressed, “We need to take into account the situation where low growth, which has been hindering the normalization of interest rates, is rapidly being overcome.”<\/p>\n
This implies that the flow of interest rate hikes could put a brake on rising housing prices, and it is read as a message to dampen unconditional expectations for rising housing prices.<\/p>\n
It also disclosed that the government is preparing for the possibility of a sharp drop in housing prices.<\/p>\n
President Lee explained, “The government has ordered the government to prepare a system to purchase houses below a certain standard for public housing in case housing prices plunge due to early mass supply, suppression of speculative demand, overdue loans due to high interest rates, and a surge in auctions.”<\/p>\n","protected":false},"excerpt":{"rendered":"\uc0ac\uc9c4 \ud655\ub300 President Lee Jae Myung speaks at the ‘Youth Budget Unboxing 2027’ event held at Cheong Wa…\n","protected":false},"author":2,"featured_media":136724,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[845,12729,69418,55236,31,146,33,69419,69417,68839],"class_list":["post-136723","post","type-post","status-publish","format-standard","has-post-thumbnail","category-south-korea","tag-bank-of-korea","tag-base-rate","tag-cheong-wa-dae-correspondence-photo","tag-housing-market","tag-korea","tag-lee-jae-myung","tag-south-korea","tag-tax-system","tag-unconditional","tag-youth-budget"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/136723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=136723"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/136723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/136724"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=136723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=136723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=136723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}