President Yoon Suk-yeol of South Korea has been vocal on social media regarding the need to reform the registered rental housing system, which currently offers tax benefits to landlords. In a statement, he questioned the fairness of granting long-term tax exemptions to registered landlords when general rental properties do not receive similar advantages. Yoon implied that while there should be some consideration for landlords' investment in the form of tax reductions, such benefits should not be permanent, calling for a review of the current regulations governing property rentals.

In South Korea, the registered rental housing system allows property owners to rent out their homes for a specified period in exchange for tax exemptions, including reduced acquisition and property taxes, along with exemption from excess capital gains taxes. However, Yoon noted that many of these registered properties continue to enjoy significant tax benefits even after the mandatory rental period has lapsed. Specifically, he highlighted the situation in Seoul, where nearly 300,000 registered units receive ongoing preferential tax treatments, raising concerns about fairness in the taxation system.

Yoon suggested that instead of abruptly eliminating these benefits, a phased approach might be more advantageous. He proposed a possible one-year grace period before significantly cutting tax advantages, followed by a complete removal of these incentives. This gradual reduction would help ease the burden on landlords who might otherwise face abrupt and excessive financial strain. Additionally, there is ongoing discussion about potentially limiting these registered properties to certain types, such as apartments, which could help address housing market inflation while balancing the interests of landlords and tenants alike.