▲ President Lee Jae Myung speaks during a townhall meeting at Jeonbuk National University in Jeonju, about 240 kilometers south of Seoul, on Feb. 27, 2026. (Yonhap)

Lee-home sale

Lee puts private home up for sale

By Kim Eun-jung

SEOUL, Feb. 27 (Yonhap) -- President Lee Jae Myung has put his private home up for sale at a below-market price, Cheong Wa Dae said Friday, in a show of willingness to stabilize the property market.

The private apartment in the city of Seongnam, south of Seoul, jointly owned with first lady Kim Hea Kyung, was put up for sale earlier in the day, presidential spokesperson Kang Yu-jung said in a written statement.

"Although he owns one home for residential purposes, the move is seen as intended to demonstrate to the public his commitment to normalizing the real estate market," Kang said in the statement.

The move comes as Lee has urged owners of multiple homes to sell their properties ahead of the government's plan to end the temporary suspension of heavy capital gains taxes in May.

Lee has also signaled the government will pursue measures to reduce incentives for speculative homeownership, including among single-homeowners who hold properties for investment purposes.

Lee currently resides at an official residence in Hannam-dong in central Seoul while renovations are underway at the presidential residence within the Cheong Wa Dae compound.

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