Former Daegu Mayor Hong Jun-pyo publicly supported President Yoon Suk-yeol's real estate policies, claiming that the flow of money from the real estate market into the stock market would lead to an increase in the KOSPI, South Korea's main stock index. He posted his views on Facebook on the 27th, noting that the 'myth of real estate invincibility' has led to a housing bubble and urging a shift in focus from the real estate market to the stock market as a means of economic stability. He emphasized the transformations Japan experienced after its real estate bubble burst two decades ago, suggesting that South Korea is trapped by the greed of vested interests in the real estate sector.

Hong also pointed out that the obsession with real estate has created an abnormal economic structure in South Korea where the economy pivots on property speculation. He insisted on the importance of limiting homeownership to one house per family, a sentiment that aligns with recent critiques of multiple property owners in the context of economic pressures on ordinary citizens and youth. His remarks come amid the rising scrutiny of policy measures being taken against homeowners with multiple properties by the current administration.

Meanwhile, President Yoon has been increasing pressure on multiple property owners, declaring a commitment to creating conditions where, for them and even for single-property investors, selling their properties becomes more advantageous than holding onto them. His administration is focused on safeguarding typical residential housing while aiming to thoroughly block investment and speculative practices related to housing, signifying a major shift in South Korea's approach to real estate management and regulatory policy.