Candidate Park Hong-geun "Real estate tax system reform needs diverse opinions... Addressing the problem of unearned income is a task"

Candidate Park Hong-geun, the head of the Planning and Budget Office, stated that it is necessary to broadly gather opinions from all parties regarding the reform of the real estate tax system. He emphasized that the tax system should help make real estate a space for living and pointed out the need for objective research from a long-term perspective.

In a written response to the personnel hearing submitted to the National Assembly’s Finance and Economy Committee, Park addressed questions about strengthening holding taxes and reducing transaction taxes, indicating that there may be various opinions on the level of real estate tax burdens. While requesting understanding as a candidate for head of the Planning and Budget Office that he could not discuss specific tax issues, he also expressed willingness to collaborate with relevant departments when necessary.

Regarding non-labor income from real estate, he responded that this aligns with President Lee Jae-myung’s policy direction and is an important issue. Park pointed out that non-labor income in the real estate market could exacerbate asset and intergenerational gaps, damage public trust in tax policies, and emphasized the importance of this issue.

On other social issues, he stated that now is the time to discuss a “sugar tax,” adding that the increasing sugar intake in modern society is leading to obesity, diabetes, and other chronic diseases, thereby raising social costs. While acknowledging that there is public support for such measures, he also noted concerns about rising prices of sugary products, emphasizing the need to advance public discussion.

Future policies related to real estate and tax reform are expected to focus on consultations among the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other relevant departments. The key to these discussions is gaining public trust. Such policy changes could have significant impacts on the real estate market and society.