PPP Calls for Withdrawal of Housing Policy by October 15

Criticism of Government Housing Policies

The People Power Party expressed strong disapproval of the recent resignation of Vice Minister for Land and Infrastructure Lee Sang-kyeong, who stepped down following a controversy involving real estate policy. The party stated that the resignation alone was not enough, emphasizing that any government officials with distorted views on real estate policy should also resign. They warned that if the Democratic Party continues to implement strict regulations similar to those seen during the administrations of Roh Moo-hyun and Moon Jae-in, it could lead to further instability in the housing market.

Calls for Policy Change

People Power Party leader Jang Dong-hyeok highlighted the need for a fundamental shift in how real estate policies are approached. He pointed out that in areas like Seoul, where land for housing construction is limited, redevelopment and reconstruction projects are essential solutions. Instead of proposing superficial measures or pretending to address public concerns, the government should focus on genuine actions such as easing regulations on these projects and promoting private housing supply.

Jang shared his experience from a visit to the Sanggye 5 District, which is undergoing redevelopment with the support of Seoul City. He described the narrow alleys that were barely passable on foot, indicating the urgent need for redevelopment. However, he noted that the October 15 “real estate terror” had dampened the hopes of residents who expected a better living environment once the project began. Many residents, including those in the Sanggye 5 District, are anxious about the potential derailment of the project.

Impact on Citizens

Jang criticized the government for its approach, stating that it has crushed the dreams of citizens who wish to own a home. He argued that the ladder of residential mobility has been severed, leaving only those with significant financial resources able to move without loans. As a result, Seoul apartments are becoming increasingly scarce, and the burden of monthly rent is causing growing concerns among ordinary citizens. Jang concluded that this is not a policy aimed at stabilizing housing but one that leads to destruction.

He also addressed President Lee Jae-myung, who has continued to raise alarm by claiming that failing to control capital region housing prices could lead to a lost 30 years similar to Japan's situation.

Public Reaction and Demands

Former People Power Party leader Han Dong-hoon echoed the sentiments of many citizens, calling for the withdrawal of the October 15 housing disaster measures. During his “Listening to Public Sentiment Road Tour in Southern Gyeonggi,” he met with citizens who expressed frustration over the impact of these measures. Many had plans for their housing, which were ruined on October 15. Han emphasized that the measures have disrupted the life plans of diligent citizens regarding housing.

He stressed that the resignation of Vice Minister Lee Sang-kyeong must be followed by the withdrawal of the October 15 housing disaster measures. This call for action reflects the widespread dissatisfaction with the current housing policies and the urgent need for reform.