President Lee Responds to Property Tax Reform Criticism: "Attacking Policy Based on a Limited Perspective"

President Lee Jae-myung Sends X Message on September 2
"Look at the Entire Policy, Not Just Aggressive Arguments"

President Lee Jae-myung pushed back against public criticism regarding the government’s revisions to its tax reform plan on September 2, questioning, “Is it unjust to change a policy position and always right to stick to it no matter what?”

On this day, President Lee wrote on his X (formerly Twitter) account, “We need to consider whether it is reasonable to ignore more important matters and tear down the whole based on only a very small part.”

President Lee Jae-myung is delivering an encouragement speech at the 22nd Advisory Council on Democratic Peaceful Unification for the Americas held at Inspire Resort in Yeongjongdo, Incheon on September 2, 2026. Photo by Yonhap News Agency

At a cabinet meeting presided over by President Lee on September 1, the government made partial revisions to the tax reform plan and deliberated and adopted the changes. The government had initially planned to reduce the cap on property tax relief for mid- to low-priced non-residential single homes to 900 million won but restored it to 1.2 billion won. Additionally, the proposal to raise the annual cap on the increase in comprehensive real estate tax to 200% was revised to remain at the current level of 150%.

President Lee pointed out, “There is criticism that the change lacks consistency or that reforms are retreating. But this criticism overlooks the changes to the comprehensive real estate tax on high-priced non-residential single homes, multi-home owners, and ultra-high-priced homes, as well as especially the reduction in capital gains tax relief for non-residential single homes, ultra-high-priced homes, and multi-home owners.”

He further explained, “A 200% annual cap on the comprehensive real estate tax increase is not inherently just, nor is a 150% cap inherently unjust. It is simply a matter of policy choice where there are differing opinions.” He added, “Rather than focusing only on aggressive and hardline arguments, I hope people will examine the overall content of the policy and also consider why housing prices in areas like Gangnam are currently plummeting.”

President Lee also remarked, “If we had maintained the caps at 1.2 billion won and 150% from the beginning, would there have been no criticism? Now that the main attack point has been removed, will critics simply find a new target?”

President Lee emphasized, “Although some say we live in a post-truth era, I hope we can restore genuine politics based on truth, focusing on the people and the nation, and strive to determine what best serves the national interest. Now is a time when we need proper politics and healthy competition to do better, rather than agitation and slander based on falsehoods or blind criticism.”

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