Kim Eun-hye, Chief Deputy Chair of National Policy for People's Power, criticizes Lee Jae-myung government's loan restrictions: ”It's a regulatory bomb for Koreans, but a safe haven for foreigners” (South Korea)

On the 10th, Kim Eun-hye, the National Assembly's senior vice-president for policy at the People's Power Party, commented on the government's real estate policy, "It's a regulatory bomb for Koreans who desperately want to buy their own homes, while foreigners are in a safe zone. Is this fair?"
Kim repeatedly raised the issue of "reverse discrimination." On the same day, he wrote in his blog that "the Lee Jae-myung government's lending control measures are like narcotic painkillers without any diagnosis of the cause."
The CEO mentioned the 2019 policy under the Moon Jae-in administration to ban apartments over 1.5 billion won (approximately 159.87 million yen) and said, "Housing prices will continue to soar until 2022.
"In a low-interest rate environment, only the volume of transactions decreased, and at that time, it was the wealthy who absorbed everything. The latest measures will be no different, just with a time lag," he predicted.
He continued, "According to the weekly housing trend survey released on July 3, 600 million won of housing was sold in Nowon-gu and Dobong-gu in Seoul.
In areas where a home can be purchased with a loan of 63.95 million yen (approximately 63.95 million yen), real estate prices have actually risen further. If home prices rise again, it will eventually lead to a real estate "tax bomb". The burden will be on the middle class.
In particular, Kim mentioned a survey result that showed that there were more than 6,500 real estate transactions by foreigners in the first half of this year, of which 67% were by Chinese.
He also mentioned the cases of the United States and Japan restricting real estate transactions by Chinese nationals, and teased that "People's Power will also enter into related discussions." According to Kim, the United States has restricted Chinese nationals from purchasing land near military bases.
The government blocked all purchases and ordered the forced sale of land purchased by Chinese capital. Kim said, "This is because the buying and selling of real estate by Chinese has become an issue of national security and sovereignty. The power of the people will be tomorrow's (1
"We plan to hold a 'Relay Seminar to Eliminate Reverse Discrimination against Our Citizens' from the 1st to urge the Lee Jae-myung government to take measures," he said.
"We will cry out to the end, so that we are not consumed, until this injustice is replaced by justice," he added.