Lee excludes officials with multiple homes from real estate policymaking | Yonhap News Agency

## Summary
OK SEOUL, March 22 (Yonhap) -- President Lee Jae Myung said Sunday he has instructed his office and the Cabinet to exclude owners of multiple homes from making real estate policies, as his administration cracks down on long-running housing speculation. Lee shared the instruction on his X account, saying he has called for the exclusion of multiple home owners, expensive home owners who do not live in them and owners of "excessive" properties from the discussion, formulation, reporting and approval of home and real estate policies. "Escaping the real estate republic is a central task for the grand transformation of the Republic of Korea," he wrote. "There cannot be even a 0.1 percent flaw or hole when it comes to real estate or home policies." Lee has made it a key goal of his administration to tackle speculative home ownership, stabilize the property market and increase public access to homes. In his post, he said there is no reason to criticize multiple home owners or expensive home owners per se, but that the problem lies in the public officials who devised tax, banking and regulatory systems to make multiple home ownership favorable. "If the public officials who created or turned a blind eye to these systems abuse these flawed systems to make speculative investments, it would only be right for them to not only receive criticism, but also sanctions," he said. "Wouldn't it be proper for them to be excluded from real estate policies even now?" Lee has sought to demonstrate his commitment to tackling the real estate issue by putting his private home up for sale at a below-market price. President Lee Jae Myung speaks during a Cabinet meeting at the government office in Sejong, central South Korea, on March 17, 2026. (Yonhap) hague@yna.co.kr (END) Related Articles Lee's approval rating hits new high since inauguration: poll Seoul apartments' publicly assessed prices jump nearly 19 pct in 2026, fastest in 5 years Lee stresses role of financial measures in stabilizing housing market (LEAD) Household loans fall for 3rd month in Feb.; mortgage loans edge up on moving demand Lee calls for all-out efforts to root out illegal practices in real estate, stock market, other crimes Keywords #Lee Jae Myung #real estate Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul S.

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SEOUL, March 22 (Yonhap) -- President Lee Jae Myung said Sunday he has instructed his office and the Cabinet to exclude owners of multiple homes from making real estate policies, as his administration cracks down on long-running housing speculation.
Lee shared the instruction on his X account, saying he has called for the exclusion of multiple home owners, expensive home owners who do not live in them and owners of "excessive" properties from the discussion, formulation, reporting and approval of home and real estate policies.
"Escaping the real estate republic is a central task for the grand transformation of the Republic of Korea," he wrote. "There cannot be even a 0.1 percent flaw or hole when it comes to real estate or home policies."
Lee has made it a key goal of his administration to tackle speculative home ownership, stabilize the property market and increase public access to homes.
In his post, he said there is no reason to criticize multiple home owners or expensive home owners per se, but that the problem lies in the public officials who devised tax, banking and regulatory systems to make multiple home ownership favorable.
"If the public officials who created or turned a blind eye to these systems abuse these flawed systems to make speculative investments, it would only be right for them to not only receive criticism, but also sanctions," he said. "Wouldn't it be proper for them to be excluded from real estate policies even now?"
Lee has sought to demonstrate his commitment to tackling the real estate issue by putting his private home up for sale at a below-market price.
The government is also set to end the temporary suspension of heavy capital gains taxes in May.
President Lee Jae Myung speaks during a Cabinet meeting at the government office in Sejong, central South Korea, on March 17, 2026. (Yonhap)
hague@yna.co.kr
(END)
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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- In his post, he said there is no reason to criticize multiple home owners or expensive home owners per se, but that the problem lies in the public officials who devised tax, banking and regulatory systems to make multiple home ownership favorable. "If the public officials who created or turned a blind eye to these systems abuse these flawed systems to make speculative investments, it would only be right for them to not only receive criticism, but also sanctions," he said. "Wouldn't it be proper for them to be excluded from real estate policies even now?" Lee has sought to demonstrate his commitment to tackling the real estate issue by putting his private home up for sale at a below-market price.
- President Lee Jae Myung speaks during a Cabinet meeting at the government office in Sejong, central South Korea, on March 17, 2026. (Yonhap) hague@yna.co.kr (END) Related Articles Lee's approval rating hits new high since inauguration: poll Seoul apartments' publicly assessed prices jump nearly 19 pct in 2026, fastest in 5 years Lee stresses role of financial measures in stabilizing housing market (LEAD) Household loans fall for 3rd month in Feb.; mortgage loans edge up on moving demand Lee calls for all-out efforts to root out illegal practices in real estate, stock market, other crimes Keywords #Lee Jae Myung #real estate Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul S.

### Implications
- The government is also set to end the temporary suspension of heavy capital gains taxes in May.
- President Lee Jae Myung speaks during a Cabinet meeting at the government office in Sejong, central South Korea, on March 17, 2026. (Yonhap) hague@yna.co.kr (END) Related Articles Lee's approval rating hits new high since inauguration: poll Seoul apartments' publicly assessed prices jump nearly 19 pct in 2026, fastest in 5 years Lee stresses role of financial measures in stabilizing housing market (LEAD) Household loans fall for 3rd month in Feb.; mortgage loans edge up on moving demand Lee calls for all-out efforts to root out illegal practices in real estate, stock market, other crimes Keywords #Lee Jae Myung #real estate Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul S.
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### Expert Commentary
This article covers lee, real, estate topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 644.