Jang Dong-hyuk Explores Measures to Ease Tax, Housing Cost Burdens

People Power Party Leader Jang Dong-hyuk visited an apartment complex in Mapo-gu, Seoul, on the 1st to assess housing-related livelihood issues, including tax burdens, soaring monthly rents, and a decline in jeonse listings, and held a meeting with residents.

At the meeting, Jang identified three core problems in the current real estate market: the so-called 'tax bomb' phenomenon where tax burdens like property and capital gains taxes are shifted from homeowners to tenants; a structure where demand shifts to monthly rentals as jeonse supply decreases, causing rents to skyrocket; and the 'disappearing jeonse' phenomenon where jeonse listings themselves are vanishing from the market. These issues, he stated, are compounding the housing cost burden for ordinary citizens.

Jang also announced a pledge to promote 'half-price jeonse' in Seoul and expand this initiative throughout the Seoul metropolitan area.