Representative Kim Min-seok Announces Review of Comprehensive Real Estate Tax Relief for Non-Resident Single Homeowners at First High-Level Consultation

New Representative Kim Min-seok publicly announced a plan to review comprehensive real estate tax (Jongbu-se) relief for non-resident single homeowners at the first high-level consultation involving the party, government, and presidential office. This includes discussions on adjusting the basic Jongbu-se deduction from the existing 1.2 billion won to 900 million won and tax reform to increase the Jongbu-se tax burden ceiling to 200%. These discussions are interpreted as an attempt to alleviate punitive taxation on non-resident single homeowners.

Previously, non-resident single homes were considered for investment purposes and subjected to punitive taxation. However, during the current discussion, questions of tax equity were raised regarding cases where individuals become non-resident single homeowners due to unavoidable circumstances, i.e., living necessities preventing them from residing in the home they purchased. The opinion was presented that punitive taxation should be applied more flexibly by distinguishing between home ownership for speculative purposes and situations where actual residency is impossible.

In his acceptance speech, new Representative Kim Min-seok defined the future relationship among the party, government, and presidential office as a 'creative, comprehensive cooperative relationship.' This is intended to refute concerns that the party would merely act as a subordinate body carrying out government directives or as a messenger for Representative Lee Jae-myung. Representative Kim's announcement is regarded as a practical demonstration of a horizontal cooperative relationship, where the party proactively proposes and coordinates policy agendas by gathering opinions from party members and citizens, rather than passively following plans from the government or the Presidential Office.

Representative Kim Min-seok emphasized that he would continue tense discussions with the government until the end through the high-level party-government-presidential office consultation. This demonstrates the party's determination to play an active and creative role as an equal policy partner, beyond merely acting as a subordinate body that implements government requests. Today's high-level consultation is seen as a symbolic stage showcasing how the Kim Min-seok leadership will steer the relationship among the party, government, and presidential office.