Democratic Party Holds 10th High-Level Inter-Party-Government Consultation… Discusses Tax Reform and Housing Supply

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.

These agenda items are expected to have a significant impact on future state administration and people's livelihoods.

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.