Ha Heongi: "'Shincheonji Involvement Allegations' Are No Help to Kim Minseok" [Soh Jongseop's Current Affairs Show]

Kim Yunhyeong: "Disappointed—Real Estate Policy Echoes Moon Jae-in's Approach"

Ha Heongi: "Shincheonji Involvement Allegation Needs Swift Resolution"

Kim Yunhyeong: "Oh Sehoon Ruling Is Not a Gain for Han Donghoon Either"

Soh Jongseop: Hello, everyone. This is the start of Soh Jongseop’s Current Affairs Show. I'm here for a lively discussion with Kim Yunhyeong, former full-time deputy spokesperson for the People Power Party, and Ha Heongi, former full-time deputy spokesperson for the Democratic Party. First, I’d like to ask for your thoughts on President Lee Jaemyung’s National Real Estate Policy Debate, which attracted a great deal of attention.

Ha Heongi: To speak honestly, I do not agree with the government’s basic approach to real estate policy. As far as I know, there is no country in the world where political power has managed to control real estate prices. The second truth is that, compared to other cities of similar size and global stature, I don't think real estate prices in Seoul are excessively high. Seoul doesn't lag behind Paris or London. If you factor in not only apartments, but also villas and other types of residences, it’s not an extremely expensive situation—though politicians avoid making that point for fear of backlash. Third, there’s ongoing debate about using tax policy or supply plans to control prices, but fundamentally, overcrowding in the Seoul metropolitan area is severe.

If you cram a large number of people into a small physical area, prices inevitably rise according to supply and demand. Real estate, unlike any other good, physically occupies space. Even if everyone wants to own it, not everyone can, since there’s high demand and limited supply. In those conditions, prices go up, and the government’s attempts to intervene only cause this 'balloon effect'—that’s my view on the Korean real estate market. In fact, when we talk about real estate problems, it’s really a matter of the Seoul apartment market; it’s not the same issue for other regions.

This is the reality, but just mentioning it causes an uproar. Because people call this kind of view irresponsible, politicians can’t speak openly; instead, they promise supply 'bombs' or tax policy changes. The instant such promises are made, the real estate market responds, and the government gets blamed for driving the volatility.

President Lee Jae-myung is asking participants for their opinions at the National Real Estate Policy Debate held at the KBS Annex in Yeouido, Seoul, on the 23rd. Photo by Yonhap News

Disappointment over Real Estate Policy—A Repeat of Moon Jae-in Administration

Kim Yunhyeong: Ultimately, it looks like President Lee will simply stick with his existing policy of strengthening property tax and continue tightly regulating loans. That was disappointing—he seems to be heading in the exact opposite direction from Mayor Oh Sehoon's proposal. In the end, everything comes back to the property tax. I was disappointed to see him offer a copy of the Moon Jae-in administration’s policies as his solution.

Ha Heongi: It’s reasonable on paper to say property tax rates in Korea are lower than in other countries, so normalizing them makes sense. But Korea also has a unique system—jeonse. Ideally, a higher property tax would mean more tax justice, but looking at how the real estate market works, there’s a high probability that increases will be passed on to jeonse prices. Jeonse in Korea serves to prop up house prices, so there are people who argue it should be abolished. Still, since there are people benefiting from this current system, you can’t change everything overnight. That’s why I think real estate is a matter of careful management; compared to other global markets, our prices aren’t abnormally high, and we need a process of recognizing that reality.

Politicians shouldn’t think a magic wand will fix real estate. Even Mayor Oh Sehoon doesn’t have a clear answer, either. Generally, when a conservative government is in power, they just avoid the real estate issue. Under President Yoon Sukyeol, for example, the market wasn’t good, but by not talking about it, people saw the market as in control, not the government. For people living and working in Seoul—newlyweds, or those unable to move elsewhere—it’s nearly impossible to buy a home, so a deeper consideration of housing welfare for these groups is needed.

Kim Yunhyeong: The People Power Party needs to take the initiative—whether by proposing capital gains tax cuts, or tax deductions tied to longer holding periods, since property tax has been paid all along. The party should quickly propose innovative new policies. I also believe the government shouldn’t intervene too heavily in supply strategy; the private sector should be entrusted with supply, and the government should swiftly designate supply locations. And it's not a situation where the People Power Party can simply sit back and expect to benefit.

Soh Jongseop: It seems challenging to turn around negative public opinion on real estate. What do you think?

Time to Soothe Real Estate Sentiment, Not Fight Over Investigative Powers

Ha Heongi: The issue is largely emotional. Consider the President's mortgage controversy: institutionally, this isn’t the same as making money through leveraged long-term loans, banking interest, and capital gains from rising prices. In this case, he was realistically able to purchase the home himself. But when the issue of reconstruction is attached and the mortgage is blocked, people get angry—they can’t get loans. At that point, it’s no longer possible to have a rational discussion.

So, politically, even if these issues can be understood through facts and logic, emotions get in the way. If you push back, the reaction is, “Who do they think they are to be so arrogant?” When jeonse dries up, young people either have to buy, switch to monthly rent, or opt for smaller homes—a sharp and painful shift. If you think about how to deal with that hurt, now is not the time for the ruling party to fight over supplementary investigative powers.

On the 23rd, participants at the National Real Estate Policy Debate held at the KBS annex in Yeouido, Seoul, presided over by President Lee Jae-myung, are requesting speaking rights. Photo by Yonhap News Agency

Kim Yunhyeong: The Democratic Party and the broader progressive camp have demonized the jeonse system. It’s hard to say they’re entirely wrong, but jeonse did provide opportunities for asset accumulation and played a role in market demand. These merits should have been acknowledged, but by vilifying the system so completely, we’ve arrived at the current situation. As for President Lee Jaemyung’s mortgage issue, I think the full details need to be disclosed. After all, it's a president’s transaction—there’s no other choice. It doesn’t appear to be illegal or an evasion of rules. However, there is the problem that this stirs up public sentiment. The presidential office keeps promoting it as a heartwarming story, but honestly, there are plenty of cases where deals fall through because people can’t put together the payment in three to four months. It’s not the standard way of doing business. Usually, buyers secure payment themselves at closing. Although these days, sellers sometimes allow flexibility, it’s unusual for a mortgage of as much as 1.7 billion won to be set like this.

Ha Heongi: Actually, it’s not that unusual. I’ve debated this for three days now, and I’ve done a lot of research. There have been cases with 4.7 billion won apartments in Seocho-gu where buyers assumed mortgages of 1 billion won; in large apartment complexes in Songpa-gu, buyers acquired properties worth around 2.7 billion won with a 900 million won mortgage. Usually, these deals require government approval. The President also went through Bundang District Office for approval. It’s not possible simply because he’s the president. First, you need a seller who will agree, then a buyer with payment capacity, and finally, actual assets to pay off the mortgage in a few months. The authorities review and approve all these criteria. It's not about being the president or having a 'guardian angel.' These are routine conditions in civil transactions. What is rare is simply the buying and selling of high-priced real estate under redevelopment conditions, not the mortgage structure itself.

Kim Yunhyeong: I was surprised it was being described as a heartwarming story.

Soh Jongseop: Let’s move on from that issue. Suddenly, the Democratic Party convention has become mired in “Shincheonji involvement” rumors, turning it into a so-called “Shincheonji convention.”

Ha Heongi: Prime Minister Kim Minseok is someone who actually predicted and warned about things like illegal emergency martial law and insurrection. I recall getting scolded for suggesting that some of these theories were excessive, so I don’t see them as totally baseless. But I don’t know the actual evidence. As for Shincheonji or the Unification Church, these cases are under investigation by the joint task force. So, it’s not possible to say there’s nothing there. Third, whether any “rooting out” can occur by August 17—it's impossible. You’re not going to hand over the party member registry to the investigators, and even if you did, there's no way to distinguish Shincheonji or Unification Church members in that short period. That’s cause for concern in itself.

I think it would be safer if the matter were made public quickly. The convention had been taking shape as a contest between forces agitating against President Lee Jaemyung and those seeking government stability. But with Shincheonji thrown into the mix, the convention is now being colored by allegations related to Shincheonji. I’m not criticizing the Prime Minister—in fact, I’ve been very critical of Jeong Cheongrae, the former Democratic Party leader, for undermining government stability and do not support him. But the Prime Minister’s message is about breaking the unholy alliance of divisive forces, anti-Lee elements, and Shincheonji. Who does that refer to? The opposing candidate. That’s why those candidates are reacting so strongly. If you claim you didn’t name anyone, that’s not a strong message.

I don’t believe Prime Minister Kim Minseok or Song Younggil, the other main candidate, are helped by raising this issue. I think it’s a problem to address in a more refined system after the convention, not during, since the controversy is spreading so rapidly. Frankly, I’m worried about the situation.

Allegations of Shincheonji Involvement Unhelpful to Kim Minseok—Evidence Should Be Made Public Quickly

Kim Yunhyeong: I believe the evidence must be disclosed promptly. There are two key points: first, the investigation by the joint task force revealed that Shincheonji members joined our party in large numbers, changing the party’s composition to exercise political influence. According to Prime Minister Kim Minseok, Shincheonji is trying to manipulate the Democratic Party convention for greater influence, which would not just be a party issue, but, under party law, would be illegal and a threat to democracy itself. So there’s an obligation to disclose the facts. Second, the task force was established on January 6, and at the time, it conducted a sweeping investigation into the People Power Party. Kim Minseok was the Prime Minister then. The timing of when religious groups attempted to intervene should be clarified for both the ruling and opposition parties, to determine whether the task force did its job appropriately.

I also believe that when the task force investigated our party and Chairman Lee Manhee, it should have investigated whether similar situations occurred with other parties. The timing of when Prime Minister Kim Minseok became aware of these attempts could determine the seriousness of the issue. I think this is a very serious matter. I doubt the Prime Minister will disclose the details, and I don’t think it can just be swept aside. The arrow has already been released, and it’s now out of Kim's hands. This must be made public, without exception.

On June 10th, at the 100th Anniversary Ceremony of the June 10th Independence Movement held at Gwanghwamun Square in Jongno-gu, Seoul, former Prime Minister Kim Minseok and former Democratic Party leader Jung Cheongrae are greeting each other. Photo by Jo Yongjun

Soh Jongseop: How do you think this will affect the landscape of the Democratic Party convention?

Ha Heongi: When the contest was between those seeking to undermine the president and those aiming for governmental stability and support for the Lee Jaemyung administration, the pro-Lee camp could command a broader coalition of votes. But with the controversy focusing on Shincheonji, that coalition narrows. First, it leads to a so-called 'reverse consolidation.' Second, since it’s a ranked-choice voting system, Kim Minseok, the Prime Minister, actually benefits this time. But people labeled as Shincheonji-related feel unfairly targeted and may opt not to support him, meaning the side making the accusations could be disadvantaged. As a vote-gathering tactic, it doesn't seem effective. In the end, the only way to cut through the controversy is with solid evidence. I worry about whether this is actually helping the Prime Minister’s cause. If there’s evidence, it’s not a fatal mistake—but if not, this needs to be resolved quickly to minimize damage. If it drags on too long, the wounds deepen. I think it’s in everyone’s interest, for both our party’s and Kim Minseok’s safety, to address this quickly and decisively.

If the Issue Drags On, the Harm Deepens—Swift Action Needed

Kim Yunhyeong: I get the sense that Kim Minseok and Song Younggil are running a poor campaign. When the Democratic Party adopted ranked-choice voting, they said it was to reduce negativity. The system penalizes negative campaigning, and yet Kim Minseok and Song Younggil are the ones engaging in negative attacks most aggressively. Instead, they should be advocating for broader support under the message of standing behind President Lee Jaemyung, but they are narrowing the focus of their campaigns more and more. Looking closely at the latest opinion polls, there have even been some reversals in public sentiment in the Honam region. That made me feel that Kim Minseok and Song Younggil were falling into Jeong Cheongrae’s rhythm.

Soh Jongseop: So, you think the landscape of the convention may be shifting?

Ha Heongi: I don’t think it's simply a matter of falling into Jeong Cheongrae’s pace. For the time being, they still have the upper hand.

Soh Jongseop: With a first-instance court verdict resulting in Mayor Oh Sehoon’s loss of office, the mayor faces a major crisis. What are your thoughts?

Seoul Mayor Oh Se-hoon is expressing his position regarding the first trial verdict on the violation of the Political Funds Act before attending the "Gangnyu Choir - Seoul Arts Group Cultural Exchange Performance" held on the 22nd at the Garden of Thanks in Gwanghwamun Plaza, Jongno-gu, Seoul. Photo by Yonhap News

Oh Sehoon’s First Trial Verdict Is Not a Welcome Outcome for Han Donghoon Either

Kim Yunhyeong: I was extremely shocked. It’s not going to be easy to get the sentence reduced on appeal, so the only realistic option is a complete acquittal. Mayor Oh Sehoon needs to manage city affairs well while working closely with his lawyers and preparing thoroughly. The issue isn’t the judge’s personal leanings; reading the verdict, the judge even mentioned the political context, which was hard for me to accept. There should have been more direct evidence, but in this case, the conviction was based on the testimony of Myung Taegyun and circumstantial evidence. Of course, witness testimony is direct evidence, but in reviewing this, we need to consider everything about Myung Taegyun’s credibility, including his past behavior, and also his personal animosity toward candidate Oh Sehoon. Given the circumstances, how credible is his testimony? Finally, the way Myung Taegyun’s testimony has been treated has varied somewhat between President Yoon Sukyeol’s trial, Kim Geonhee's, and Mayor Oh Sehoon's. The courts have reached different conclusions, and those inconsistencies need to be addressed.

If we want reform and renewal inside the party, we need as many allies as possible. Mayor Oh Sehoon has great symbolic importance—he received the most votes in the People Power Party. If someone with such support finds himself in this kind of political bind, it’s not a good situation for Assemblyman Han Donghoon, either. I don’t think it brings any advantage to Han Donghoon.

Power Structure of the Democratic Party May Be at Risk—Candidates Should Reflect Seriously

Ha Heongi: I think the judge reached a sensible verdict. Even on appeal, because the chance of acquittal is very low, there'll likely be a by-election. This raises the question: Does the Democratic Party have a suitable candidate for the situation? First, real estate policy is a key battleground. Second, the controversy over supplementary investigative powers is at odds with public sentiment, and prosecution withdrawal is also an issue. The Seoul mayoral race will revolve around attracting voters in their 20s and 30s as well as real estate issues. Are we prepared? And if we are, which candidate can break through these obstacles? If our party stays in this state, won't there be mounting calls for judgment against us?

By 2027, the political environment may be even tougher than this year’s local elections. I don’t think the Democratic Party can afford to be complacent. One main reason to seek the party leadership in 2028 is nomination rights. But if they lose the 2027 Seoul mayoral election, the party leader will be gone. My point is, the loss of Mayor Oh Sehoon’s seat doesn’t only affect the People Power Party—there could be consequences for the Democratic Party’s power structure as well. We shouldn't just assume victory and think that fighting among ourselves will solve everything. I think we really need to reflect seriously.

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