President Lee Jae-myung Signals Easing of Reconstruction and Redevelopment Regulations to Boost Housing Supply

President Lee Jae-myung Accelerates Real Estate Supply Expansion... Hints at Easing Reconstruction and Redevelopment Regulations

President Lee Jae-myung clearly stated his intent to expand housing supply to stabilize the real estate market during a press conference on the 8th reviewing his first year in office. He emphasized a policy direction aimed at speeding up reconstruction and redevelopment projects to increase housing supply, which is seen as a move to alleviate upward pressure on housing prices, particularly in the Seoul metropolitan area, and promote residential stability for citizens.

President Lee remarked, "We will speed up reconstruction and redevelopment to increase supply quickly," and announced that specific supply policies would be released soon. This is interpreted as a direct response to recent concerns about supply shortages in the housing market. The relevant industries expect this announcement to contribute to revitalizing the construction sector and expand opportunities for genuine homebuyers to acquire their own homes.

According to the announced details, President Lee stated that comprehensive real estate measures would be finalized in July. This indicates his will to comprehensively review existing real estate policies and establish a new policy direction that suits market conditions. Specifically, the existing policy of curbing speculation by increasing property holding taxes is expected to be maintained, sending a message of strengthening pressure on multi-homeowners while establishing a sound real estate market order.

6.3 Local Election Results Accepted as 'A Warning from the People'... Reflecting on Lack of Sovereignty Consciousness

President Lee Jae-myung accepted the results of the 6.3 local elections as "a warning from the people" and stressed the need to be "more humble and approach with a lower stance." This is interpreted as an acknowledgment that the election results were a stern evaluation of his administration and a pledge to more carefully consider public sentiment in future state affairs. He expressed deep reflection on the ballot shortage incident that arose during the elections, calling it "a warning the people are giving me, or this administration."

Regarding the ballot shortage, the President reflected, "I reflect that there might have been a lack of consciousness of sovereignty," expressing regret for the inconvenience caused to citizens exercising their right to vote. Furthermore, he referred to the young people who pointed out the ballot shortage issue as "precious and respectable," clearly stating his intention to listen to and respect their voices. This holds significance in encouraging political participation among the younger generation and reaffirming the importance of exercising sovereignty, which forms the bedrock of democracy.

Additionally, President Lee drew a line between the ballot shortage incident and the 'election manipulation theory,' indicating a desire to prevent it from leading to fundamental distrust in the democratic system while acknowledging the issues in the election process. He pointed out the seriousness of the situation with the strong expression, "It has completely ruined democratic Republic of Korea, a model democratic nation, in an instant," and expressed his resolve to inspect and improve systems to prevent recurrence.

Diagnoses Stock Market as 'Undervalued'... Calls Kospi Surpassing 8,000 a 'Normalization of the Abnormal'

President Lee Jae-myung offered a positive diagnosis of the current stock market situation. He expressed confidence in the market's potential, stating, "Stock prices have risen faster than expected. However, I still believe they are slightly undervalued." He evaluated the Kospi index's surpassing of the 8,000 mark as a "result of normalizing the abnormal," suggesting that the stock market, which had been stagnant, is now finding its inherent value.

This assessment serves as evidence that the government's economic policies are positively impacting the stock market. Furthermore, the President's remarks can act as a factor in instilling confidence in the market among investors and stimulating additional investment sentiment. Experts interpret President Lee's statements as a signal that raises expectations for future stock market gains. Some also suggest that the government's active economic stimulus will likely sustain a stock market rally in conjunction with corporate earnings improvements.

The positive outlook on the financial market, alongside real estate policies, reflects confidence in the current administration's direction of economic management. This is interpreted as a will to secure economic growth momentum in pursuing national tasks toward 'Irreplaceable Republic of Korea.' It is expected that in addition to the specific real estate supply policies to be announced by the government, further policies for the sound development and growth of the financial market will be presented.

Reaffirms Stance on 'Fabricated Prosecution Special Prosecutor Bill'… "Just Follow the Law and Common Sense"

President Lee Jae-myung reaffirmed his stance on the 'Yoon Suk-yeol Administration Fabricated Prosecution Special Prosecutor (Special Prosecutor) Bill,' stating, "Just follow common sense." This indicates his adherence to the existing position of emphasizing legal and procedural legitimacy in response to the opposition's demand for the special prosecutor bill, leaving the judgment to the National Assembly. The President added, "The National Assembly should decide which method is desirable."

This is interpreted as maintaining the principle of prioritizing judicial judgment and procedural legitimacy in the political dispute surrounding the special prosecutor bill. He also commented on the name 'Fabricated Prosecution Special Prosecutor Bill' itself, saying, "If it's wrong, cancel it; if not, leave it," emphasizing that fact-finding through legal procedures takes precedence. These remarks by the President are expected to serve as important reference material during the bill's deliberation process in the National Assembly.

Meanwhile, regarding the 'helicopters being shot down' incident, President Lee stated, "It is certain that it was not intentional," showing his intent to minimize diplomatic friction and manage the situation stably. In this manner, he is demonstrating confidence in his state management by clearly stating his positions on domestic political issues as well as foreign and security matters.