▲ President Lee Jae Myung presides over a Cabinet meeting at the presidential office Cheong Wa Dae on Jan. 27, 2026. (Yonhap)

Lee-real estate market

Lee signals strong resolve to end exemption of heavy capital gains taxes for multiple home owners

By Kim Seung-yeon

SEOUL, Feb. 1 (Yonhap) -- President Lee Jae Myung on Sunday reaffirmed his strong resolve to end the temporary suspension of the higher capital gains tax for multiple home owners to curb the overheating trend of the housing market.

"Why do (people) side with speculators even when they are witnessing the country suffering from housing speculation?" Lee said on the social platform X.

Lee suggested those opposing the move should not try to "unfairly outsmart" the government but make the most of the opportunities they have left until May 9, when the pause on the capital gains tax hike for multiple home owners expires.

"There are still 100 days left," he said, referring to the remaining period of the suspension of the tax surcharge.

Lee posted a similar message on X on Saturday, saying an extension of the suspension is not being considered at all and that there are plenty of means to "normalize what is abnormal."

"No government can beat the market, but no market can beat the government either," he said in the post Saturday.

Lee has increasingly been using social media as a direct channel to highlight his policy approaches to key issues. The move also appears to be intended to gauge public sentiment at the same time.

Earlier in the day, Lee left a social media message criticizing a far-right civic group under investigation over insulting statues of a girl representing Korean victims of Japan's wartime sexual slavery, calling the group "beasts that must be isolated" from society.

Lee also posted another post on X calling for an open and candid public debate on his proposal to introduce a levy on sugar-laden foods and drinks.

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