Political Dispute Over Real Estate Measures
A heated debate has erupted between the ruling and opposition parties over the government’s real estate measures announced on October 15. The dispute centers around the use of statistical data to determine which areas should be regulated. The People Power Party has accused the government of “statistical manipulation,” while the Democratic Party of Korea defended the measures as necessary to address a rapidly overheating market.
Accusations of Selective Data Use
People Power Party Senior Spokesperson Park Sung-hoon criticized the government for selectively using statistics to justify its actions. He stated that the presidential office and the Ministry of Land, Infrastructure and Transport received September statistics from the National Housing Price Trend Survey but only used data from June to August to designate regulated areas.
Park argued that if the July–September statistics had been applied, it would have been impossible to regulate all of Seoul. This, he claimed, proves that the government cherry-picked data to support its agenda. He further accused the administration of continuing the “politics of statistical manipulation” that began under the previous Moon Jae-in government. According to him, the selective use of favorable statistics is a clear form of manipulation.
People Power Party Chief Floor Spokesperson Choi Eun-seok went even further, demanding the immediate resignation of the Minister of Land, Infrastructure and Transport. He also warned that the party might file charges against the Minister of Economy and Finance and the Policy Director for alleged perjury during a National Assembly audit related to statistical data.
Defense of the Measures
In response, Democratic Party of Korea Floor Spokesperson Kim Hyun-jung defended the October 15 measures in a written briefing. She stated that the government made its decision based on confirmed June–August statistics, which showed clear signs of market overheating. Kim argued that waiting for the September statistics would have been a dereliction of duty, as it would have missed the “policy golden time.”
She urged the People Power Party to stop spreading what she called “baseless claims of statistical manipulation.” According to her, the measures were implemented with the intention of stabilizing the real estate market and preventing speculative investments.
Timing of the Survey Release
Earlier, Reform Party Floor Leader Chun Ha-ram revealed at a press conference that the September National Housing Price Trend Survey was scheduled for release on the same day the October 15 measures were announced. He argued that the government had already decided to include all of Seoul in regulated areas and excluded the unfavorable September statistics that contradicted their conclusion. Chun suggested that the government selectively used data up to August to support its policy decisions.
Purpose of the Measures
The government introduced the October 15 measures to stabilize the overheated real estate market. The primary goal of these measures is to effectively block gap investments—purchasing homes with jeonse leases—and strengthen Debt Service Ratio (DSR) regulations. These steps are intended to curb speculative activity and ensure more stable housing prices across the country.
The ongoing debate highlights the deepening political tensions surrounding economic policies and the use of data in shaping public policy. As the controversy continues, both sides remain firm in their positions, with the opposition calling for accountability and the ruling party defending its actions as necessary for market stability.