Controversy Over Lee Sangkyung's "Buy When Prices Fall" Remark... Ruling and Opposition Parties Discuss Resolution Urging Resignation at Land Committee

People Power Party: "We Must Gather Consensus to Call for Resignation"
Democratic Party: "Proceed with the Audit, Not Political Strife"
Decision to Be Made After Internal Party Discussions

During the National Assembly Land, Infrastructure and Transport Committee’s audit of organizations such as the Korea Real Estate Board and the Housing and Urban Guarantee Corporation, the issue of calling for the resignation of Lee Sangkyung, First Vice Minister of Land, Infrastructure and Transport, was raised. For now, both the ruling and opposition parties, including the committee secretaries and members, agreed to proceed with discussions on the matter.

On October 23, Kim Heejung, a lawmaker from the People Power Party, stated before the audit began, "Vice Minister Lee appeared on YouTube and said that if housing prices fall, people can just buy homes. I want to ask whether he understands the responsibility of his words as the vice minister in charge of the ministry’s policies." Kim also raised issues regarding gap investment in Lee’s Bundang district and pointed out, "We need to gather consensus to call for the vice minister’s resignation."

Lee Sangkyung, First Vice Minister of Land, Infrastructure and Transport. Photo by Jo Yongjun

Bae Junyoung, another lawmaker from the People Power Party, also said, "There is a saying, 'Without trust, there is no standing.' I urge his resignation for undermining the credibility of the government’s real estate policy," adding, "If lawmakers from both parties agree, this issue should be discussed."

The ruling party acknowledged the inappropriateness of Lee’s remarks but maintained that the audit should proceed for now. Ahn Taejun, a lawmaker from the Democratic Party, said, "I understand that he has already apologized personally," and argued, "The public would not want this to be turned into a political dispute by summoning him separately as a witness."

Han Junho, another Democratic Party lawmaker, stated, "Vice Minister Lee’s remarks were highly inappropriate," and added, "I do not think our committee should avoid addressing this issue (the resolution calling for resignation)." However, he also said, "Today is neither a confirmation hearing nor a session for questioning personnel matters, so it would be better for the committee chair to coordinate the government’s position after collecting opinions from both parties’ secretaries and members." Han had previously apologized regarding Lee’s remarks at the Democratic Party’s Supreme Council meeting the day before.

Bok Giwang, who serves as the Democratic Party’s secretary for the Land Committee, said, "Rather than discussing this issue immediately, it would be more appropriate to reach a conclusion on whether to put it on the agenda through internal discussions within the negotiation groups and consultations between the secretaries."

Meanwhile, on the official YouTube channel of the Ministry of Land, Infrastructure and Transport that day, Vice Minister Lee stated, "During a YouTube broadcast intended to provide more detailed explanations of our policies to the public, I failed to fully consider the perspectives of citizens who are working hard with hopes of owning a home. I will take this opportunity to reflect on myself once again. As the official responsible for real estate policy, I promise to do my utmost to ensure the housing market stabilizes as soon as possible."

This content was produced with the assistance of AI translation services.