DP Urges 'End to Partisan Squabbling' Amid PPP's Real Estate Attacks

Senior Presidential Secretary for Economic Affairs Kim Yong-beom mentioned the need to adjust real estate holding and transfer taxes on his personal social media account the previous day, assessing the Korean economic situation as an 'unprecedented boom.' Kim added that imagination and execution were needed to connect corporate profits and fiscal capacity with vulnerable groups and future industries.

In response, the Democratic Party of Korea criticized the People Power Party's offensive on the 21st, stating, "Do you intend to squander even the opportunity for economic leap through partisan infighting?" Party spokesperson Park Ji-hye, in a statement on the 21st, characterized the People Power Party's attacks as 'groundless' and argued, "Now is not the time to divide national consensus. It is time for the ruling and opposition parties to put their heads together and consider policy alternatives." Park emphasized that the Democratic Party would focus on seeking measures for livelihood recovery in cooperation with the government.

The People Power Party criticized the government's real estate policy failures and the presidential office staff's SNS messages, taking issue with Senior Secretary Kim Yong-beom's remarks. People Power Party Deputy Floor Leader Choi Eun-seok raised issues with Kim's use of personal SNS and pointed out that the ruling and opposition parties also showed disagreements on the stability of the jeonse (lump-sum deposit) rental market and the performance of the capital markets.

The Democratic Party stated that Kim's remarks were a policy response aimed at preventing current economic growth from being concentrated in real estate speculation. Spokesperson Park expressed concern that if national wealth accumulated from the boom in industries like semiconductors and AI flows into real estate speculation, it could burden low-income families without homes and young people.