Home > National > Politics

Lee issues another stern warning against real estate speculation

Published: 03 Feb. 2026, 19:23

President Lee Jae Myung speaks during a Cabinet meeting at the Blue House in central Seoul on Feb. 3. [YONHAP]

President Lee Jae Myung on Tuesday issued another stern warning against real estate speculation, demonstrating his resolve to stabilize home prices by vowing to end an exemption from a heavy capital gains tax for owners of multiple homes.

Lee made the remarks during a Cabinet meeting, responding to criticism from some skeptics who argue that the government is seeking to boost the stock market while tightening controls on the housing market.

"Housing prices and stock prices should not be judged on the same footing," Lee said. "Some may think this way due to a lack of understanding, but it is inappropriate for those in leadership positions to mislead the public like this."

While rising stock prices support corporate activities and do not harm the public, Lee said surging housing prices can tie up investment capital in real estate, preventing it from flowing into more productive sectors and distorting the social and economic structure.

"When housing prices soar, those who do not own homes suffer, undermining fair resource distribution," he said.

Lee also criticized those who welcomed the sharp decline in stock prices, as well as skeptics who question the government's efforts to support the stock market while seeking to rein in housing prices. The Kospi fell more than 5 percent to close at 4,949.67 on Monday, before rebounding by more than 5 percent in early trading Tuesday to surpass the 5,000-point mark.

During the meeting, Lee also pledged to expand support for new businesses as part of efforts to shift the economic paradigm toward entrepreneurship.

"In the era of AI, societies that treat challenge and failure as the foundation for success can overcome crises and seize greater opportunities for prosperity," he said.

To adapt to changes in the job market driven by the AI-led transition, Lee said the government should ease regulations on starting new businesses and expand financial support for entrepreneurs with innovative ideas.

Yonhap