▲ President Lee Jae Myung speaks during a Cabinet meeting at Cheong Wa Dae in Seoul on March 31, 2026. (Yonhap)

Lee-housing market

Lee hints at keeping tax benefits for owners of one home where they do not temporarily reside

By Kim Eun-jung

SEOUL, April 1 (Yonhap) -- President Lee Jae Myung on Wednesday hinted that the government may keep tax benefits for owners of one home where they temporarily do not reside due to reasons such as work or their children's education.

Lee shared a news article on the social media platform X that raised concerns among one-house owners, as the government imposed fresh mortgage curbs for owners of multiple homes in Seoul and its neighboring areas

In January, Lee questioned the fairness of offering long-term ownership tax breaks for properties used for investment or speculation.

He clarified that his earlier remarks -- targeting homes used for investment or speculation -- do not apply to cases where homeowners temporarily live elsewhere for unavoidable reasons, including work.

"It is clear that cases where a home is intended for residential use, but the owner temporarily lives elsewhere due to unavoidable reasons such as work, are excluded," Lee wrote, calling for corrections to the article.

Lee has repeatedly urged owners of multiple homes to sell their properties ahead of the planned expiration of heavy capital gains tax exemptions, which are set to expire next month.

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