When Asked "Should Jeonse Disappear?"... President Lee Says, "I Said It Will Eventually Disappear"

On September 18, President Lee Jaemyung responded to a question at a press conference asking, "Do you still think the jeonse system should disappear?" by saying, "When did I ever say that it should disappear?"

At his seventh press conference since taking office, held at the Blue House Guesthouse on this day, President Lee clarified, "I recall saying that the (jeonse system) ‘will disappear’," and added this in response. He then concluded his answer by remarking, "In that case, the question becomes meaningless, doesn’t it?"

Previously, at a press conference marking the first anniversary of his inauguration on June 8, President Lee described the jeonse system as "a unique system found only in Korea, which is a kind of private lending." He said, "It is on a declining trend." He further stated, "It distorts the market," adding, "In the end, I think it will gradually disappear over time."

Yonhap News Agency

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