Seoul: President Lee Jae Myung announced that his administration's efforts to stabilize the real estate market are designed to address "unfair privileges" associated with investment and speculation. He clarified that the government is not compelling homeowners to sell their properties.

According to Yonhap News Agency, Lee used a social media post on platform X to communicate his policy direction, focusing on ensuring that those benefiting from speculative activities also face corresponding responsibilities. Lee emphasized protecting individuals who own homes for residential purposes while highlighting the negative impact of multiple homeowners investing or speculating without inhabiting the properties. This, he noted, harms homeless youth and regular citizens.

"While we protect those who own homes for living purposes, those who hold multiple homes for investment or speculation purposes without living in them cause harm to homeless young people and ordinary citizens," Lee stated. "It is fair that they bear responsibilities and burdens corresponding to that impact."

Lee's comments came shortly after expressing concern over the prevalent market practice of providing loans to multiple homeowners. The statements faced criticism from the primary opposition party, which accused the government of "intimidating" the real estate sector.

These remarks are part of a series of recent social media posts by Lee regarding his perspectives on the volatile property market. He has consistently committed to stabilizing housing prices, arguing that escalating costs are heavily burdening young people and deterring marriage and childbirth.

The president's comments are widely seen as an indication that the government may consider reviewing policies on the extension of loans for owners of multiple properties when their current loans reach maturity.