South Korean President Lee Holds 3-Hour Real Estate Forum on July 23, Proposes Policy Reviews

According to Yonhapinfomax, South Korean President Lee Jae-myung held a 3-hour real estate policy forum on the morning of July 23 at KBS headquarters in Seoul, where he directly questioned experts and proposed multiple policy review tasks. The president identified concerns about unlimited mortgage guarantees for high-price properties and excessive leverage distorting the market, calling for normalization rather than price controls.

Regarding property holdings tax, President Lee acknowledged that advancing to developed country levels would require raising rates by at least 3 times, but stated the government is considering differential approaches based on occupancy status and property type due to realistic taxpayer resistance. He also questioned private rental housing incentives and the capital gains tax exemption structure for single homeowners, signaling potential policy adjustments.