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President Lee Jae-myung reaffirmed his commitment to fostering the stock market as a viable alternative to real estate investment, emphasizing the need to steer capital away from property speculation and toward financial markets.

“Fortunately, the stock and financial markets have been stabilizing lately, and they’re starting to be recognized as alternative investment options. We must maintain this trend,” Lee said during a Cabinet meeting on July 1 at the presidential office in Yongsan.

His comments follow the government’s announcement last week of sweeping real estate measures, including a cap of 600 million won on mortgage loans in the greater Seoul area and other regulated zones. Lee’s remarks signaled once again that his administration is committed to cooling property speculation by revitalizing stock investment.

“Because investment has been limited to housing or real estate, homes have become tools for speculation, leading to housing instability,” Lee said. It was his first public statement on real estate since the financial authorities unveiled their latest mortgage restrictions on June 27.

However, the presidential office clarified that no immediate additional real estate measures are planned. Spokesperson Kang Yu-jung said in a briefing, “At this stage, we’re monitoring how the loan regulations unfold,” adding that the government is also reviewing housing supply strategies in response to demand.

Since taking office, President Lee has consistently emphasized his pro-stock market stance. On June 11, he made his first external visit to the Korea Exchange, where he proposed a “one-strike-out” rule for unfair trading practices and pledged tax reforms to promote dividends, aiming to usher in what he called the “KOSPI 5000 era.” His strategy is to shift investment from real estate, which threatens housing affordability, to the stock market, which he sees as a healthier alternative.

In the same Cabinet meeting, Lee instructed the Ministry of National Defense to review how to handle land in northern Gyeonggi Province returned by U.S. forces. He also urged the Ministry of the Interior and Safety to inspect drainage systems and ambulance readiness ahead of the monsoon season, warning, “Disasters must not occur due to poor management.”

He further directed the Ministry of Agriculture, Food and Rural Affairs to establish a system in cooperation with the Defense Ministry to deploy military helicopters in the event of wildfires. Lee also called on the Ministry of Oceans and Fisheries to develop support measures in line with Korea’s growing population of recreational anglers, which now exceeds 10 million.

Separately, Lee approved the dismissal of Kim Tae-kyu, vice chair of the Korea Communications Commission (KCC), who had submitted his resignation in April for personal reasons. With Kim’s departure, the commission is now left with Chairwoman Lee Jin-sook as its sole member and is unable to convene full meetings.

Chairwoman Lee requested the president to nominate a new commissioner, but Lee effectively rejected the request, citing concerns that a two-member commission would lead to deadlock. “Chairwoman Lee did not present a viable alternative to the risk of a one-on-one stalemate,” said spokesperson Kang.