There is a Korean proverb, 'jeongeobokcheol,' which means to avoid repeating the mistakes of those who came before us. Concerns are growing that the Lee Jae-myung administration's real estate and North Korea policies are echoing the failures of the Moon Jae-in government. Although my time covering each administration was different, I have observed both from my position as a Blue House correspondent.
Both administrations seem to prioritize policy justifications over public and market reactions, and they place more weight on the potential for future dialogue with North Korea than on its actual actions. A government that claims to be practical must critically reflect on past failures.
The Moon administration repeatedly attempted to control housing prices through taxes and loan regulations but failed to alleviate housing insecurity. President Moon himself acknowledged at the end of his term that he should have worked harder on housing supply. While emphasizing the correctness of its real estate policies, the public had to endure soaring housing prices and feelings of relative deprivation. The painful lesson learned was that mere intent to curb speculation cannot replace market supply and demand, a lesson that dates back to the Roh Moo-hyun administration.
The upward trend in apartment prices in Seoul, which began before the current government took office, has not stopped, according to recent statistics from the Korea Real Estate Agency. Prices have risen for 87 consecutive weeks, surpassing the previous record of 85 weeks during the Moon administration. The current government's push for 'supply first' through expedited permits and financial support is a step in the right direction. However, supply cannot be proven through slogans or planned quantities. On October 7, Prime Minister Han Seung-soo, just a day before his 100th day in office, stated at a luncheon that it would be realistically difficult to resolve the rental issues within a few months.
The president's diagnosis that the trend of disappearing jeonse (long-term lease) is not alleviating tenant anxiety. What the public needs is not an explanation of future policies but affordable housing costs they can manage this month. The current administration must not repeat the Moon administration's failure of missing the timing for supply while spending time defending its policies.
In particular, the government's commitment to 'make it happen' must be demonstrated through concrete policies and results. What the public desires are manageable housing prices and stable living conditions.
There are also clear warning signs in North Korea policy. The Moon administration's vision for peace on the Korean Peninsula revealed its limitations in the face of North Korea's destruction of the inter-Korean liaison office in 2020. The scenes of summits and declarations did not guarantee a change in North Korean behavior.
Last month, three of our soldiers were injured due to a landmine explosion in the demilitarized zone. The term 'injured' does not adequately describe the severity of their wounds. President Lee ordered an investigation and visited the injured soldiers. The military concluded on October 5 that the landmines were planted by North Korea south of the military demarcation line and conducted a removal operation, demanding an apology from North Korea. This was a necessary action. Now, the president's message to North Korea must be clear and commensurate with the confirmed responsibility of the North.
However, in his National Armed Forces Day speech on October 1, President Lee referred to the incident as an 'unfortunate accident' without mentioning North Korea's responsibility, instead calling for trust restoration and dialogue resumption. The United Nations Command stated the day before that it had discovered North Korean landmines south of the military demarcation line, deeming it a violation of the armistice agreement. The government should have clearly stated its principles regarding the act that harmed our soldiers, alongside promises to strengthen military capabilities.
Efforts to promote dialogue and hold North Korea accountable must go hand in hand. Any plans to seize opportunities for U.S.-North Korea dialogue must be based on the principle of protecting our soldiers' safety and sovereignty. Real estate and security are issues that affect the lives and well-being of the public. Good intentions or applause from a strong support base cannot substitute for a policy's report card. The government must abandon its persistent obstinacy and be willing to change its direction of governance with an open attitude. No government has the right to impose the same costs on the public again.
* This article has been translated by AI.
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