DP Lawmakers Voice Concerns Over Real Estate Policy at General Assembly: "Too Harsh on Non-Resident Single-Home Owners"

"Government Plan Needs Supplementation... Supply Measures Must Reflect Local Realities"


Lawmakers Representing Gwacheon and Namyangju Call for Infrastructure Solutions Including Transportation


"Fiscal Support and Enhanced Executability Required for Housing Supply"

On August 13, the government announced measures for the rapid supply of housing and comprehensive financial measures to stabilize the real estate market. In response, the Democratic Party of Korea convened a general assembly of lawmakers to gather opinions on the government's real estate policies. It was reported that concerns were raised, mainly among lawmakers from Seoul, regarding the increased tax burden for non-resident single-home owners and other issues related to the proposed tax reforms.

After the general assembly, Democratic Party spokesperson Juhee Lee told reporters, “Policy chief Jeongae Han explained the main points of the government's proposal, dividing it into tax reforms and supply measures. Afterwards, about 12 lawmakers engaged in free discussion.”

Byungdo Han, Acting Leader and Floor Leader of the Democratic Party of Korea, is speaking at the Policy Coordination Meeting held at the National Assembly on August 13, 2026. Photo by Hyunmin Kim

Spokesperson Lee added, “The overall sentiment was not to completely oppose the government plan, but rather that it needs to be supplemented,” and “In particular, regional lawmakers stressed the importance of taking local realities into account.” She continued, “Regarding the tax system, the party will have a thorough deliberation process,” adding, “Not only the party, but both the party and the government will continue discussions to create a tax plan that will ensure the public does not feel any sense of unfairness.”

At the general assembly held on this day, most of the opinions were shared by lawmakers representing Seoul, Gyeonggi, and other metropolitan areas.

Regarding supply, there were comments emphasizing the need to enhance executability. Lawmaker Namgeun Kim said, “While Seoul City and Korea Land & Housing Corporation implement the policies, additional plans only increase the workload and hinder results. To improve execution, LH's organization should also be expanded.”

Lawmakers also discussed physical limitations in the plan. Lawmaker Soyoung Lee, who represents Gwacheon, Gyeonggi Province, where the Gwacheon Racecourse is located—a site included in the government’s supply plan—pointed out that over 20,000 housing units are already being constructed in Gwacheon, and any additional construction would create problems such as sewage management, subways, and roads.

Lawmaker Yongmin Kim, who represents Namyangju-byeong in Gyeonggi Province, also stressed, “As 21,700 units are being supplied in a large-scale project, a perfectly prepared ‘transportation first’ plan must be in place. Otherwise, the area will simply become a bedroom community with only an increased housing supply.”

There were also opinions that fiscal support for housing supply is insufficient. Reportedly, some suggested that additional tax revenue should be used to support increased housing supply.

Regarding tax policy, suggestions were made to restore the long-term holding special deduction and to protect small-scale rental business owners. Lawmaker Hyunhee Jeon, who represents Jung and Seongdong gap districts in Seoul, argued, “People who stretched their finances to the limit to buy a house now find it difficult to live in their homes,” and added, “Isn’t the regulation on non-resident single-home owners too harsh? They should be protected.” She also emphasized the need to protect Millennials & Gen Z who took extreme measures to purchase homes while within the economically active population.

Earlier in the morning, Hyun-Do Han, Acting Leader and Floor Leader of the Democratic Party of Korea, stated at the Policy Coordination Meeting at the National Assembly regarding the real estate policy, “We will bring together the capabilities of related standing committees, including the Land, Infrastructure and Transport Committee, the Political Affairs Committee, and the Planning and Finance Committee, to comprehensively coordinate tasks related to supply, finance, taxation, and legislation. We will also work thoroughly to ensure that the government’s measures are implemented without any setbacks on the ground.”

Immediately after the government’s policy announcement, Democratic Party spokesperson Ji-hye Park commented, “The party and the government will do their utmost to ensure housing stability by swiftly enacting follow-up legislation and implementing policies without delay. In particular, to quickly stabilize the recently unstable rental housing market, all resources will be committed to short-term supply measures.”

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