Lee Jae-myung Government Conveys Concerns Over Strengthening Property Taxes on Expensive Homes

As the government pushes for tax law revisions to increase property taxes on homes worth over 900 million won and reduce capital gains, the ruling Democratic Party of Korea, centered around lawmakers from the "Han River Belt" constituencies, is reportedly voicing concerns and requesting coordination with the government.

Although the government initially established a policy direction of increasing the tax burden for property holding under the guise of stabilizing the real estate market, political burdens are intensifying as ruling party lawmakers with constituencies in the "Han River Belt" are pushing back during the process of concretizing the policy.