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| Minister of Land, Infrastructure and Transport Kim Hyun-mee speaks during a questioning session at the National Assembly, Tuesday. / Yonhap |
By Anna J. Park
Minister of Land, Infrastructure and Transport Kim Hyun-mee's reckless comments during Tuesday's National Assembly inquiry session have led her to face criticism for her complacent and irresponsible stance on the nation's unbalanced runaway housing prices.
During Tuesday's government inquiry session at the National Assembly, Minister Kim refused to acknowledge the incumbent administration's evident failure to rein in housing prices, after independent lawmaker Lee Yong-ho asked her whether the government's real estate policies have failed.
"No, rather the government's real estate policies announced so far are comprehensively working together," Minister Kim refuted. "Since some of the policies haven't yet taken effect in the market, we need to comprehensively assess their results later, when every policy begins working together."
The minister explained that as various measures included in the so-called June 17 real estate package measure ― referring to a set of policies, such as strengthening housing loan constraints ― have different dates to be implemented in the market, the measures' effects couldn't be seen before mid-July.
Despite the minister's evasive answers regarding responsibility for the housing market disasters, it doesn't seem too early to assess the incumbent administration's housing policies.
According to the Citizens' Coalition for Economic Justice, apartment prices in Seoul rose by 52 percent during the past three years since President Moon took office in May 2017. The civic group pointed out that the biggest cause of the soaring housing prices lays with the government's failed policies.
Another civic group, the People's Solidarity for Participatory Democracy, also harshly criticized the Moon administration's real estate policies. It held a press conference earlier this week in front of Cheong Wa Dae, urging the government to shift its real estate policies.
"The Moon administration's real estate policies are a de facto failure. People's anger and anxiety are rising due to soaring housing prices," the civic group stated during the press conference.
The progressive-leaning Justice Party also criticized the government's real estate policies. Sim Sang-jung, the party's leader, said at the end of last month during the party's committee meeting that the party urged the government to carry out a fundamental review of its policies.
Nevertheless, Minister Kim is expected to set a record for being the longest-serving land minister, if she remains at her post until September this year. She has maintained the position for more than three years now. There have been various online petitions on the Cheong Wa Dae website demanding the minister be replaced due to her lack of expertise in housing policy, yet the government hasn't yet budged.
According to local media outlets, about 23 percent of key presidential aides working at Cheong Wa Dae own more than two properties, despite Chief of Staff Noh Young-min's strong recommendation to them to dispose of non-primary residences at the end of last year.
