Seoul Mayor Oh Se-hoon criticizes real estate policies

South Korean political parties and Seoul Mayor Oh Se-hoon are expressing significant concerns regarding recent government real estate policies. During a People Power Party meeting at the National Assembly, Mayor Oh criticized the government for excluding the Seoul Metropolitan Government from the policy-making process for the August 13 real estate measures. He argued that the current focus on penalizing residents based on actual occupancy status risks labeling citizens as speculators and infringing upon their freedom of movement.

Oh emphasized that the fundamental solution to housing instability is a continuous and reliable supply of homes through urban redevelopment and reconstruction. He called for bold regulatory improvements to increase project profitability and urged a shift away from taxation and heavy regulation toward supply-driven solutions.

Within the opposition Democratic Party, internal divisions are emerging over tax reform proposals. While some members focus on supply and financial measures, lawmakers from Seoul and Gyeonggi provinces are particularly concerned about potential changes to capital gains tax and comprehensive real estate taxes. Conversely, lawmakers from non-metropolitan regions have expressed frustration, suggesting the political discourse is becoming overly centered on Seoul's interests.