People Power Party to hold real estate policy forum Friday

The People Power Party announced it will hold the "PPP Real Estate Policy Normalization Forum" at the National Assembly at 10 a.m. Friday to closely evaluate the results of the government's forum and present alternatives for sound real estate policy.

Party leader Jang Dong-hyeok, floor leader Jeong Jeom-sik and other party leadership are expected to attend. The forum will be chaired by Shim Gyo-eon, a professor in the real estate studies department at Konkuk University, and will include Seoul city officials, real estate experts and members of the public. Participants will examine structural problems in the Lee Jae Myung administration's real estate policies and discuss practical alternatives that reflect market principles and on-the-ground realities.

The party said President Lee Jae Myung's "extraordinary" 2.9 billion won ($1.96 million) apartment purchase was "a symbolic event in which the president himself exposed the self-contradictions of the Lee Jae Myung administration's real estate policy." It added: "The Lee Jae Myung administration has imposed strict lending regulations and various transaction restrictions on ordinary citizens, yet the president's own apartment transaction was conducted in a manner that ordinary people would find practically impossible to replicate. Public frustration and a sense of inequity have reached a breaking point."

The party added that it would "watch closely and with gravity whether the administration will put forward sincere measures to restore the shattered trust in the real estate market, or whether it will once again resort to excuses the public cannot accept and extraordinary sophistry."

The party also said it plans to hold a second real estate policy consultative meeting with Seoul Mayor Oh Se-hoon as soon as possible, following the first session held in February.