South Korean political parties clash over economic and housing policies

South Korean political parties are engaged in intense disputes over economic and housing policies. President Lee Jae-myung recently ordered a full review of the Individual Savings Account (ISA) reform and the 'Stock Price Suppression Prevention Act' due to concerns over inadequate preparation and potential side effects.

Democratic Party acting leader Han Byung-do expressed support for the President's decision to review the ISA and pledged to expedite legislation to support government housing supply measures. Han criticized the People Power Party for obstructing necessary follow-up laws, such as the Urban Renewal Act and the Special Act on Public Housing.

Conversely, the People Power Party has criticized the government's economic management, labeling the tax reforms as 'tax bombs' and demanding a special investigation into the design of single-stock leverage ETFs. Within the People Power Party, internal friction is also rising as the central ethics committee moves forward with disciplinary proceedings against four lawmakers, leading to accusations of selective punishment from certain factions.