The Democratic Party emphasized cooperation between the party, government, and presidential office, discussing the 2026 tax reform bill and housing supply measures for the Seoul Metropolitan Area as key agenda items.
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The Democratic Party of Korea officially held its 10th high-level inter-party-government consultation on the morning of the 23rd. The meeting was moderated by Rep. Park Sung-joo, Senior Spokesperson of the Democratic Party, and was organized to discuss major pending issues between the party, government, and presidential office.
Rep. Kim Min-seok emphasized at the consultation that the party, government, and presidential office must work as one body with the goal of 'the success of the Lee Jae-myung administration.' He stressed that while maintaining a healthy tension with the government based on a sense of comradely responsibility, each must perform transformed roles in their respective positions.
Rep. Kim Min-seok announced the key agenda items for this inter-party-government consultation, including the 2026 tax reform bill, housing supply measures for the Seoul Metropolitan Area, and plans for promoting priority legislation. These agenda items are expected to have a significant impact on future state administration and people's livelihoods.
Rep. Kim Min-seok stated that in-depth consideration is needed for the 2026 tax reform bill, specifically regarding the adjustment of the basic deduction for the comprehensive real estate tax (jongbuse) for non-resident single homeowners from 1.2 billion won to 900 million won, and increasing the jongbuse tax burden ceiling to 200%. He emphasized the ripple effects these tax reforms, coupled with the conversion to long-term capital gains special deductions, could have on the jeonse/wolse market, calling for a cautious approach.
Rep. Kim Min-seok emphasized that the key to housing stability is above all expanding supply, asserting that all means and methods must be mobilized to secure land and expand real estate supply comprehensively. To achieve this, he added that shortening approval processes and revolutionary regulatory changes must be pursued, vowing to fulfill the party's legislative responsibility.
Prime Minister Han Duck-soo congratulated the election of Party Leader Kim Min-seok, highly appreciating Mr. Kim's experience in leading one axis of state affairs as Prime Minister. Prime Minister Han mentioned that this inter-party-government consultation is even more special because Mr. Kim knows the government's concerns and on-site difficulties better than anyone else. He emphasized that substantive results for people's livelihoods must be created through close cooperation between the government and the party, pledging to work together to operate state affairs in a way that gives hope to the public.
Answers come from the transcript, with the exact spot cited.
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