Jeong Cheong-rae, floor leader of the Democratic Party, declared on February 20 that curbing speculative demand from multi-homeowners is crucial to dismantling the “real estate republic” and easing citizens’ housing anxieties.
Targeted Message to Party Leadership
This pointed message targets Lee Jae-myung, the party leader steering major housing policies. Jeong emphasized that the largest speculators—multi-homeowners—must face direct action.
During a recent National Assembly plenary session, Jeong noted that Lee Jae-myung advocates for comprehensive real estate controls and bold implementation measures.
Past Failures and Urgent Reforms
Jeong highlighted previous missteps: “Supply-side concerns prompted excessive housing services, fueling massive waves where speculators captured all gains without restraint.”
He described the leader’s stance as a threat to national stability that demands real regulation. For self-employed multi-homeowners amid economic pressures, Jeong stressed prioritizing core issues over ideology and distractions.
“(This approach) transforms social ills into profits for non-multi-homeowners—a correct policy direction,” Jeong added. He warned that real estate transcends simple supply increases; unchecked demand persists without stringent limits.
Call for Transparency and Action
Jeong urged moving beyond rhetoric to deeds: “Deep-rooted real estate speculation infests state-run firms. Stakeholders must expose identities, analyze trends, and restore balance.”
He affirmed commitment to abolishing the real estate republic framework through resolute steps.
Jeong consistently presses policies targeting multi-homeowners. On X (formerly Twitter), he linked this to presidential candidacy discussions, insisting new leadership unite with aligned figures to build public consensus.
