Main opposition leader steps up pressure on Moon's 'failing' real estate policy

Main opposition United Future Party floor leader Rep. Joo Ho-young speaks at the National Assembly, Tuesday. Yonhap

The floor leader of the main opposition United Future Party (UFP) on Tuesday heaped pressure on the Moon Jae-in administration over its real estate policy, which he lambasted as a "fiasco."

Delivering his first speech to the 21st National Assembly, UFP floor leader Rep. Joo Ho-young zeroed in on skyrocketing house prices, a major issue that has increasingly weighed on the Moon administration's approval rating.

"(The Moon government) bombarded home owners with (increased) gross real estate tax and property tax and now is angling to raise transfer tax. I wonder if owning a house is a crime," the floor leader said in his speech to a parliamentary plenary session.

"In reality, high-ranking government officials raked in huge profit margins with apartments in the most coveted areas, raising the ire and the sense of deprivation of the public.”

He defined the Moon administration's real estate policy as "a big failure," and pressed the government to "ease up regulations (in the property market) and increase housing supply" as a way to stabilize the market.

The main opposition floor leader also urged the administration to sack Land Minister Kim Hyun-mee, who has been under heat for failing to curb soaring home prices.

The overheating property market has been increasingly burdening Moon around the midpoint of his five-year presidential term.

Weighed down by the property issue and other political controversies, including alleged sexual misconduct by late Seoul Mayor Park Won-soon, Moon's approval rating plunged to 44.8 percent for the third week of July, the lowest point in nine months.

The speech was the main opposition floor leader's first address to the chamber as the representative of one of the two parliament negotiation groups. The speech was delivered after the chamber formally opened last Thursday, more than one month after the new parliamentary term began on May 30, due to bipartisan rows.

"The true nature of the Moon administration is hypocrisy and shamelessness and each and every member of the public should recognize the seriousness of its tyranny and stand up against it," Joo said.

He also demanded a formal parliamentary probe into the abrupt death of Mayor Park, who was facing sexual harassment allegations from his former secretary.

The floor leader also took a swipe at Moon's North Korea policy.

"(Moon's North Korea policy) completely fell through with the North's demolition of the inter-Korean liaison office in the Gaesong Industrial Complex and derision and insult of (Seoul)," he said.

Last month, the North blew up the building that served as a symbol of inter-Korean reconciliation and peace in anger over anti-Pyongyang leaflets sent by activists in the South. (Yonhap)