LEE ON REAL ESTATE POLICY REFORM

[Anchor Lead]

The Democratic Party launched an election committee yesterday and went into full presidential election mode. DP candidate Lee Jae-myung apologized for the current administration’s failed real estate policy and promised to carry out powerful and sweeping reform.

[Pkg]

​The Democratic Party launched its election committee and pledged to turn the country’s transitional crisis into an opportunity for progress. DP candidate Lee Jae-myung’s first message was about real estate issues and sweeping reform. He first apologized for the current administration’s real estate policy.

[Soundbite] Lee Jae-myung(DP Presidential Candidate) : "I can’t apologize enough as I see people suffering from high house prices. I am truly sorry."

His solutions were the restitution of development profits and putting a ceiling on new apartment prices. He also promised to come up with an extensive supply plan. His pledge is being seen as appeasing the public discontent over heated real estate which had fueled the demand for a new government. Lee said the Moon administration’s achievements and failures rest solely on him. He said that mistakes will be corrected and inadequacies will be addressed. But he stressed that his political root is the same as those of the Kim Dae-jung, Roh Moo-hyun and Moon Jae-in governments.

[Soundbite] Lee Jae-myung(DP Presidential Candidate) : "The DP had many successes but I humbly accept the criticism that it had failed to meet people’s high expectations of improving livelihoods."

He also cited former President Park Chung-hee’s Gyeongbu Expressway project to emphasize the importance of large-scale national investments. This is seen as an attempt to expand his voter base. Former DP leader Lee Nak-yon and other primary race candidates also attended the launching ceremony to demonstrate the party’s unity. Lee Nak-yon stressed unity by saying that it is the DP’s culture to compete in contests but come together as one when needed.