The Democratic Party of Korea mentioned on the 20th about the debate concerning the removal of the long-term holding special deduction (LT-HSD) for property transfer taxes, “We have not examined any changes to the tax system.”
Kang Jun-hyeon, a senior representative of the Democratic Party, commented on this issue during a press meeting on the same day, in response to a bill introduced by Representative Yoon Jong-oh from the Progressive Party aimed at eliminating the LT-HSD for individuals owning one home.
Senior Spokesperson Kang also commented on President Lee Jae Myung’s post on X (formerly Twitter), which referred to the opposition’s assertion that “eliminating the LT-HSD is a tax bomb” as “an obvious false accusation,” noting, “The context needs to be taken into account.” Kang clarified, “The president’s position is that he is thoughtfully examining the issue of buying property for speculative reasons within real estate policies,” and added, “However, the Democratic Party has never examined any changes to the tax system.” He further mentioned, “The People Power Party is spreading misleading narratives by claiming a total elimination of the LT-HSD, which is untrue,” and stated, “How can they completely remove it for genuine residents? There should be no tax burden on those who legally own housing.”
In the meantime, concerning President Lee Jae Myung’s request to the National Assembly the day before for a special investigator’s recommendation, Senior Spokesperson Kang said, “We will actively discuss it.”
In response to the People Power Party’s assertion that “the opposition will recommend all candidates,” Kang remarked, “They should look at previous instances,” and noted, “There was a situation where one candidate was recommended by the ruling party, another by the opposition, and a third by the Korean Bar Association.” He further said, “The statement about recommending all candidates reflects the opposition’s position,” and added, “We will proactively engage in discussions with the opposition.”
Concerning Kim Yong, former deputy director of the Democratic Research Institute and a key assistant to President Lee Jae Myung, who joined Representative Jung Chung-rae’s itinerary at Seongnam Moran Market the day before, Kang mentioned, “There was no formal invitation from the party,” and noted, “It hasn’t been addressed during the Supreme Council meeting (regarding candidate selections).”
Concerning the potential of Ha Jung-woo, the senior presidential secretary for AI and future planning, to participate in the Busan Buk-gap by-election, Kang mentioned, “The individual preference of Secretary Ha is the key consideration,” and noted, “From the party’s standpoint, the approach is to attract and select new and skilled individuals, so we need to make three visits to convince them.”
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