South Korea's Lee vows to keep pledge to end real estate speculation
In short
South Korean President Lee Jae-myung said on Oct 5 that escaping the “real estate republic” is a national task and that he will keep his promise to escape the “real estate speculation republic,” Chosun Ilbo reported. Newsis quoted him saying the country cannot be made to face a “lost 30 years” simply because times are difficult now, and Korea Economic Daily reported he said the “passing around of the real estate bomb” will be ended. In a post on X the same day, Lee also said the farmland full survey is just a survey and that people who hold farmland normally face no disadvantage, according to Korea Economic Daily.
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South Korean President Lee Jae-myung said on Oct 5 that escaping the “real estate republic” is a national task for the country and that he would keep his promise to escape the “real estate speculation republic,” Chosun Ilbo reported. Newsis quoted him saying the country cannot be made to face a “lost 30 years” because times are difficult right now, and Korea Economic Daily reported he said the “passing around of the real estate bomb” would be ended. [ 1 , 2 , 3 ]
In a post on X the same day, Lee also addressed the farmland full survey, saying it is “just a survey” and that people who hold farmland normally face no disadvantage, Korea Economic Daily reported. The outlet said the post referenced a fact-check animation by Agriculture Minister Song Mi-ryung on the survey. [ 3 ]
Why it matters
The remarks indicate that housing and land policy remain an administration priority, though none of the three business outlets reports what specific measures would follow. The coverage stays on the president's own framing — escaping a “real estate speculation republic” and avoiding a “lost 30 years” — rather than on policy detail or market effects.
Key facts
- President Lee Jae-myung said on Oct 5 that escaping the “real estate republic” is a national task of South Korea. [ 2 ]
- Lee said he will keep his promise to escape the “real estate speculation republic.” [ 2 , 3 ]
- Lee said the country cannot be allowed to face a “lost 30 years” over real estate because of current difficulties. [ 1 ]
- Lee said the “passing around of the real estate bomb” will be ended. [ 1 , 3 ]
- Lee said the farmland full survey is “just a survey” and that normal farmland holders face no disadvantage. [ 3 ]
- Lee made the farmland remarks in a post on X that referenced a fact-check animation by Agriculture Minister Song Mi-ryung on the farmland survey. [ 3 ]
Confirmed by several sources
Still unclear
- Where and in what setting Lee delivered the real-estate remarks. None of the documents states a venue for those remarks; only the farmland comments are attributed to a post on X.
- What specific measures the pledge to escape the “real estate speculation republic” or to end “passing around of the real estate bomb” would involve. No document describes any policy measure, timetable or target.
- The scope and schedule of the farmland full survey. The documents mention the survey only through the president's statement and do not describe its content.
- Lee, an official source, said the farmland full survey is just a survey and that normal farmland holders face no disadvantage. Reported by a single source so far
What local media are saying
Timeline, local time
- Newsis publishes a report quoting President Lee Jae-myung saying the country cannot be made to face a “lost 30 years” over real estate because times are difficult now. [ 1 ]
- Chosun Ilbo reports Lee's pledge to keep his promise to escape the “real estate speculation republic.” [ 2 ]
- Korea Economic Daily reports Lee's remarks, including his post on X saying the farmland full survey is just a survey. [ 3 ]