Feb 8 • 01:30 UTC 🇰🇷 Korea Hankyoreh (KR)

"Are you saying I should live in the presidential residence for life?"... The Democratic Party rebuts the demand from the People Power Party for the president to sell his house

The Democratic Party of Korea rebuts the People Power Party's demands for President Yoon Seok-youl to sell his house in light of his anti-speculation campaign.

In response to President Yoon Seok-youl's ongoing anti-real estate speculation efforts, the opposition People Power Party has criticized him, stating he should first sell his own residence. This led to a backlash from the ruling Democratic Party, with lawmakers pointing out that no previous presidential administration has faced such demands regarding their official residences. They highlighted the appropriateness of the presidential residence as a government asset rather than a personal possession, questioning the legitimacy of the opposition's claims.

Democratic Party members argue that it is unreasonable to expect the president to sell his property while fulfilling his duties. They contend that former presidents have maintained their private properties without encountering such political assaults. For instance, lawmaker Park Ji-won emphasized that both he and other officials retained their private residences while living in government accommodations, underscoring this practice is common during an office tenure.

Furthermore, the debate has revealed underlying tensions regarding real estate policy in South Korea. Notably, representatives from the People Power Party insisted that the failure to sell properties indicates a lack of confidence in the real estate market. They have urged the president to align his actions with his rhetoric on curbing property speculation, creating a politically charged dialogue around housing, government policies, and personal accountability for public officials.

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