Korean President vows to correct housing "fantasy" in Lunar New Year message

by Lee Eun-byeon Posted : February 17, 2026, 16:59Updated : February 17, 2026, 16:59
President Lee Jae Myung and first lady Kim Hye Kyung deliver New Year’s greetings in 2026. (Office of the President via Yonhap)
President Lee Jae Myung and first lady Kim Hye Kyung deliver New Year’s greetings in 2026. (Office of the President via Yonhap)
SEOUL, February 17 (AJP) -South Korean President Lee Jae Myung on Tuesday underscored his core governing goal — to correct what he called the nation’s “housing fantasy” and build a safe and peaceful society grounded in fairness, reason, growth and shared prosperity.

In his Lunar New Year message posted on social media platform X, Lee said he never sought political power for personal ambition, but to gain the authority needed to confront structural injustice, widening inequality and speculative excess in the real estate market.

“Power is not the goal,” he wrote. “It is the means to do what must be done.”

Reflecting on his childhood in poverty, Lee said his lifelong aspiration has been to build a society in which no one is forced to bear unfair burdens or deprived of opportunity.

“My wish has always been that no one — my family, my neighbors, or any citizen — would suffer from injustice,” he said.

He traced this vision back to his first mayoral campaign in Seongnam two decades ago, arguing that his political career has been guided by a consistent commitment to social equity.

After “crossing countless obstacles and moments close to death,” Lee said he has now been given a historic opportunity to reshape the country. “Now that I have the chance, how can I remain still?” he wrote.

A central theme of the message was housing reform he has been consistently emphasizing.  

Lee pledged to confront what he described as a deeply rooted speculative culture that treats homes as financial instruments rather than basic necessities. 

He said dismantling the “housing fantasy” — the belief that property prices will endlessly rise — is essential to restoring economic balance and social mobility.

“Real estate must return to its original purpose: a place to live, not a tool for enrichment,” he said.Lee also promised to pursue policies aimed at stabilizing housing prices, expanding affordable supply and curbing market manipulation, while promoting balanced national development. 

Beyond housing, the president outlined broader goals, including strengthening public safety, narrowing income gaps and fostering sustainable growth. 

“Overcoming inequality, building a safe and peaceful nation, and creating a fair and rational society — I will devote myself fully, without fear,” he said. 

He credited public support for enabling his rise to the presidency and pledged to govern with urgency and humility. 

“Thanks to the people, I have fulfilled my wish,” he wrote. “Now, only determination remains.” 

Lee concluded with a call for unity and collective responsibility, urging citizens to participate in building a more inclusive society. 

 
Screenshot of President Lee Jae Myung’s post on X.
Screenshot of President Lee Jae Myung’s post on X.

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.