Hajun-kyung, the Chief Economic Growth Officer at the Blue House, dismissed speculation regarding additional relief for real estate taxes, stating it has been "misunderstood." However, he acknowledged that the final decision on tax legislation rests with the National Assembly, leaving open the possibility for adjustments during the legislative process.
On September 4, during an appearance on SBS Radio's 'Kim Tae-hyun's Political Show,' Hajun-kyung responded to questions about discussions within the ruling party regarding further tax relief. He suggested that any subsequent proposals may have been misinterpreted from earlier party suggestions.
He explained, "During the legislative notice period, we consulted with the party and made slight modifications to reflect those discussions in the announcement at the Cabinet meeting. At least, this is the extent of the discussions between the ruling party and the government."
Hajun-kyung left room for potential adjustments during the National Assembly's review process, stating, "Ultimately, the law is decided by the National Assembly, so I cannot make definitive statements." He emphasized that while there may be some reduction in the comprehensive real estate tax burden for non-resident homeowners, the policy will continue to favor actual residents.
Following the announcement of the tax reform plan last month, the government made some modifications to the comprehensive real estate tax for non-resident homeowners based on feedback received during the legislative notice period. Some members of the ruling party have suggested that discussions may arise in the National Assembly about unifying the basic deduction for resident and non-resident homeowners at 1.4 billion won.
Regarding the utilization of the U.S. military return site in Yongsan, Hajun-kyung stated that while it is essential to adhere to the principles of park development, there is a need to discuss using some of the land for youth housing. He noted, "The area of the U.S. military return site is 910,000 pyeong, which is larger than Yeouido's 880,000 pyeong. We should consider how to use this land in the heart of Seoul for the benefit of future generations."
He mentioned the need to discuss whether it is better to leave vacant low-rise accommodations, previously used by the military, to future generations or to convert them into public housing spaces for young people. He reiterated that the principle of keeping the returned land as public property remains unchanged.
On the topic of U.S. semiconductor tariffs, Hajun-kyung assessed that there is no need to interpret the situation as a new shock. He stated, "There were agreements made during last year's tariff negotiations regarding semiconductors, and we are conducting practical discussions within the framework of those existing agreements." He added, "It is not the case that a new major shock has occurred."
In response to opposition criticism regarding the 100 trillion won future response fund being likened to 'slush funds,' Hajun-kyung countered, "The money the government spends is subject to the National Assembly's oversight." He likened the future response fund to a 'dam' that will not release increased tax revenue all at once but will be utilized as needed, explaining that the design aims to lower the national debt ratio from around 51% to 48%, considering the size of the economy.
* This article has been translated by AI.
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