What did Kim Min-seok say about the government’s housing tax proposal in greater Seoul?

Kim Min-seok said the proposal needs more deliberation. He specifically pointed to the plan that would effectively raise taxes on single-home owners who do not live in the property and said blind spots should be removed by recognizing varied reasons for not residing there.

Why did Kang Hoon-sik say the government needs to send clearer signals on housing supply?

He said people are anxious about housing supply, so the government should be clearer about when, where and how many units will be built. He also asked local party leaders to propose ways to secure land for construction right away.

What was notable about the location and timing of the high-level policy meeting?

The meeting took place at Prime Minister Han Seong-sook’s official residence and was the first one there since Kim Min-seok was elected DPK leader last Monday. It brought together the government and the ruling party to discuss housing policy and other livelihood issues.

Gov't, ruling party discuss housing policy at high-level meeting

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Summary

The government and the ruling Democratic Party of Korea held a high-level policy coordination meeting Sunday at Prime Minister Han Seong-sook’s official residence to discuss housing policy and livelihood issues. DPK leader Kim Min-seok said more deliberation is needed on the government’s proposal to increase housing supply in the greater Seoul area and revise tax rules for single-home owners who do not live in their property. Presidential chief of staff Kang Hoon-sik urged clearer signals on when, where and how many units will be built to ease public anxiety.

Key Facts

The meeting was held at the official residence of Prime Minister Han Seong-sook for the first time since last Monday’s election of Kim Min-seok as DPK leader.
The government plans to lower the basic deduction for the comprehensive real estate holding tax for nonresident single-home owners from 1.2 billion won to 900 million won.
Kang Hoon-sik asked party local leaders to use their community knowledge to suggest ways to secure land for housing construction in the immediate term.
The government and Cheong Wa Dae said they would actively review the local leaders’ proposals.

By Yonhap

Published Aug 23, 2026 2:47 pm KST

Prime Minister Han Seong-sook, left, ruling Democratic Party of Korea leader Kim Min-seok, center, and presidential chief of staff Kang Hoon-sik, right, attend a consultative meeting of senior party and government officials at the prime minister's residence in Seoul, Sunday. Yonhap

The government and the ruling Democratic Party of Korea (DPK) held a high-level policy coordination meeting Sunday to discuss housing policy and other issues affecting people's livelihoods.

The meeting was held at the official residence of Prime Minister Han Seong-sook for the first time since last Monday's election of former Prime Minister Kim Min-seok as DPK leader.

Kim addressed the controversy surrounding the government's push to increase housing supply in the greater Seoul area and the accompanying tax code revisions, saying more deliberation is needed regarding the proposal to effectively increase taxes on single-home owners who do not live in the property.

Under the proposal, the government will lower their basic deduction for the comprehensive real estate holding tax from the current 1.2 billion won to 900 million won.

"We need to broadly recognize the various inevitable reasons for not living in the property and remove blind spots," the DPK leader said.

Presidential chief of staff Kang Hoon-sik stressed the importance of sending clear "signals," such as when, where and how many units will be built, in order to ease the public's anxieties around housing supply.

He asked that the party's local leaders use their knowledge of their communities to present ways to secure land for housing construction in the immediate term, promising that the government and Cheong Wa Dae would actively review them.

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