Democratic Party to Discuss Tax Reform and Real Estate Supply Measures at General Assembly on August 13

Three Candidates Nominated for the Special Inspector Position

The Democratic Party of Korea will hold a general assembly of its lawmakers on August 13 to discuss the government's new tax reform plan and real estate supply measures. The agenda includes reviewing the impact of the tax reform plan on the housing market and the tax burden, as well as discussing plans to expand housing supply, such as lifting greenbelt restrictions.

As the government announced a real estate tax reform plan that strengthens the tax burden on ultra-luxury homes, non-residential single homes, and multiple homeowners, causing confusion in the market, a sales flyer is posted at a real estate office in Songpa-gu, Seoul on the 11th. 2026.8.11 Photo by Kang Jinhyung

According to political sources on August 11, the Democratic Party is scheduled to hold the inaugural meeting of its Housing Market Stabilization Task Force (TF) on August 12, officially beginning work on formulating real estate policies. The task force is headed by Policy Chief Han Jeongae.

Kim Seonghoe, the Democratic Party's floor spokesperson, told reporters after the party's floor strategy meeting at the National Assembly on this day, "We plan to hold a general assembly on the 13th to discuss the tax reform plan and real estate supply measures with party members. The first meeting of the Housing Market Stabilization Task Force is scheduled for 2 p.m. on the 12th."

During the general assembly, the party is expected to address the issue of increased tax burdens on non-residential single homeowners due to the tax reform plan, as well as the potential impact of preferential policies for actual residents on the Jeonse and monthly rental markets. Plans to ease greenbelt restrictions to increase housing supply will also be under discussion.

The process for nominating candidates for the Special Inspector position is also underway. Kim, the floor spokesperson, said, "On Monday the 10th, we sent an official letter to the Korean Bar Association requesting candidate recommendations. The deadline is 4 p.m. on the 14th."

Once three candidates—the two nominated by each of the main parties and one recommended by the Korean Bar Association—have been selected, the National Assembly plans to vote on the recommendation next week. Previously, the Democratic Party and the People Power Party had each nominated their respective candidates, Choi Gilsoo and Kang Jisik.

The Democratic Party leadership will also suspend open Supreme Council meetings ahead of the party’s national convention scheduled for August 17. Until the convention, the open Supreme Council meetings, previously held on Mondays, Wednesdays, and Fridays, will not be held; instead, floor strategy meetings will take place during those time slots.

Han Byungdo, acting party leader and floor leader, told reporters on this day, "Closed Supreme Council meetings are scheduled for Wednesday and Friday this week. We are also planning to hold a party affairs committee meeting."

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