LEE JAE MYUNG'S POLICY PROPOSALS

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Meanwhile ruling Democratic Party’s presidential candidate Lee Jae-myung continues his policy moves. On Monday, he appeared on KBS News 9 and talked about the policy proposals he made so far. Regarding real estate, he said home prices are believed to have passed the apex and are on the decline to the point that the concern now is prices may fall too much.

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Lee Jae-myung was the first to appear on the KBS New Year interview series to be held with the four presidential candidates. First he said the reason why the current administration’s real estate policies were ineffective was because the market situation differed from assessments made by policymakers. But he said the property market has most likely peaked and is on a downward trend.

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "Suburban areas are already seeing a drop in home prices so at this point we are concerned about a potential hard landing in the real estate market."

He said that as interest rates climb and market liquidity is retrieved, the future concern is possibly a plunge in housing prices. Regarding generational discord over jobs, Lee proposed extending the retirement age in areas where there is no competition with young people.

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "There are many such areas. For instance, not so much in the 3D, but jobs at SMEs that are not favored by younger folks."

On pension reform, another issue that faces fierce conflict between different generations, Lee said social consensus and extensive dialogue is necessary to reach a resolution which is why it’s difficult to conclusively assert an outcome.

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "All I can say is to form a discussion body such as a pension reform committee to induce social consensus and hammer out a solution."

On the issue of declaring a formal end to the Korean War, Lee said making this happen appears difficult during President Moon Jae-in’s term. Regarding criticism over his flip-flops, he said the public’s will must come first and the reason why the Democratic Party was not favored by the people was because it placed excessive emphasis on its values and ideologies.

[Soundbite] Lee Jae-myung(DP Pres. Candidate) : "I’m not a domineering ruler. Such a person would say “The public will is not important, this is right, do this.” Isn’t that autocracy?"

He gave a short reply concerning a committee overhaul in the main opposition People Power Party, saying he hopes the situation is swiftly sorted out so presidential contenders can engage in rational competition. On Tuesday, Lee held a New Year’s press conference at a Kia Motors factory in Gwangmyeong, Gyeonggido Province and gave a speech on overcoming the pandemic and realizing a grand transition for the country.