Seoul: President Lee Jae Myung on Wednesday suggested that the government might retain tax benefits for homeowners who temporarily reside away from their primary residence due to work obligations or their children's education.

According to Yonhap News Agency, Lee shared an article on the social media platform X, which highlighted the worries of one-house owners following the government's introduction of new mortgage restrictions for owners of multiple homes in Seoul and its surrounding regions. In January, Lee had raised questions about the fairness of granting long-term ownership tax breaks for properties used for investment or speculation.

Lee clarified that his previous comments, which were aimed at homes utilized for investment or speculative purposes, do not pertain to homeowners who temporarily relocate for unavoidable reasons, such as employment. "It is clear that cases where a home is intended for residential use, but the owner temporarily lives elsewhere due to unavoidable reasons such as work, are excluded," Lee stated, urging for amendments to the article.

Lee has consistently encouraged owners of multiple properties to divest their holdings in anticipation of the scheduled end of significant capital gains tax exemptions, which will expire next month.