President Lee, 7month 23day chairs the National Real Estate Debate
President Lee will chair the 7month 23day “National Real Estate Debate.” The government said it will hold public debates by topic on supply, finance and taxation from 7month 14~16day, and that proposals to reform property holding taxes and transaction taxes could be announced at the end of this month.
President Lee will personally chair the National Real Estate Debate on 7month 23day. With proposals to reform property holding taxes and transaction taxes potentially being announced at the end of this month, investors and the market are paying close attention.
The Ministry of Land, Infrastructure and Transport will hold a public debate on supply on 7month 14day. Housing supply plans and regional development issues are expected to be discussed.
The Financial Services Commission will hold a debate on financial topics on 7month 15day. Discussions related to mortgage loans and financial regulations are the main agenda items.
The Ministry of Finance and Economy 7 month 16 day, it will hold a discussion forum on taxation. Directions for tax reform, including property holding taxes and transaction taxes, will be discussed in depth at the event.
Kim Yong-beom, head of the Policy Office at the Presidential Office, 10 announced at a briefing at Chunchugwan plans to hold the discussion forum and measures to gather public opinions online. He said opinions submitted through the online channel would be reflected in the forum's discussions and the policy review process.
The government explained that it would proceed without disruption with its supply plans based on the principles of expanding supply and stabilizing the market. It added that planned supply projects in Dongtan, Giheung, and Guri, among others, were also continuing.
The comprehensive real estate measures prepared following this public discussion forum are highly likely to include provisions on reforming property holding taxes. Specific details and the implementation timing will be finalized after the forum's results and an additional review process.