Seoul: The government and the ruling Democratic Party (DP) convened a high-level policy coordination meeting to address housing policy and other pressing issues impacting citizens' livelihoods. The discussions took place at the official residence of Prime Minister Han Seong-sook, marking the first such meeting since the election of former Prime Minister Kim Min-seok as the DP leader.

According to Yonhap News Agency, Kim Min-seok highlighted the controversy surrounding the government's initiative to increase housing supply in the greater Seoul area, alongside proposed tax code revisions. He emphasized the need for further deliberation on the proposal that would effectively raise taxes on single-home owners who do not reside in their properties. The government plans to reduce the basic deduction for the comprehensive real estate holding tax from the current 1.2 billion won to 900 million won. Kim urged for a broader recognition of the various reasons individuals might not occupy their properties and called for the elimination of blind spots in the policy.

Presidential chief of staff Kang Hoon-sik underscored the necessity of sending clear signals to the public about the timing, location, and quantity of new housing units. This approach is aimed at alleviating public anxiety regarding housing supply. Kang also encouraged local party leaders to leverage their community knowledge to propose immediate-term land acquisition strategies for housing construction. He assured that both the government and Cheong Wa Dae would actively consider these local insights.