Opposition Holds Counter Real Estate Forum: "If Policies Don't Change, the Government Must"

People Power Party to Hold Second Real Estate Policy Conference with Seoul City
Ruling Party Defends, Vows Measures to Block Speculation and Ensure Housing Stability

The People Power Party is intensifying its opposition to President Lee Jaemyung by countering his “Grand Debate on Real Estate Policy.”

On July 24, Jang Donghyuk, leader of the People Power Party, stated at a National Assembly forum on real estate policy normalization under the theme “From Regulation to Market, From Punishment to Rationality,” “It has become clear that President Lee has no intention to change his real estate policy. If the president refuses to change policies, then the only option is to change the government.”

Jang Donghyuk, leader of the People Power Party, is taking a commemorative photo with participants at the People Power Party real estate policy normalization forum titled "From Regulation to Market, From Punishment to Reasonableness" held at the National Assembly on July 24, 2026. Photo by Kim Hyunmin

This forum was designed as a direct response to the Grand Real Estate Debate held the previous day at the Blue House. Jang emphasized, “The core of the debate boils down to raising property ownership taxes, abolishing the long-term holding special deduction, tightening loan regulations, and the absence of any supply measures. This runs directly counter to the needs of the market.” He added, “There is even talk in the market saying, ‘Moon Jae-in was better.’”

Regarding the president’s recent home sale, Jang commented, “The hasty sale was meant to avoid a heavy property tax hit and a tax bomb in advance of the abolition of the long-term special deduction.” The People Power Party is planning to soon hold the second real estate policy conference in cooperation with the Seoul Metropolitan Government.

Meanwhile, Han Byungdo, Floor Leader of the Democratic Party, criticized, “Even before the forum began, the People Power Party poured out indiscriminate criticisms, and as soon as it was over, they dismissed it as a ‘publicity stunt.’ It is also difficult to accept the idea of discussing housing stability with Seoul Mayor Oh Se-hoon, who has betrayed the trust of 10 million citizens.” Han added, “We will thoroughly block speculation while firmly protecting the housing ladder for real homebuyers and preparing effective measures for swift housing supply.”

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