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Park Soo-hyun, chief spokesperson for the Democratic Party, speaks to reporters at the National Assembly in Seoul on October 26 about the government’s housing policy and other current issues. / Source: Yonhap News

The political fallout from the Lee Jae-myung administration’s October 15 real estate policy continues to intensify, with the ruling People Power Party (PPP) and the opposition Democratic Party (DPK) locked in an escalating war of words over each other’s property holdings. Critics warn that the confrontation has devolved into a political mudfight, with little focus on real policy alternatives.

According to political sources on Sunday, the Democratic Party, facing rising public criticism of the government’s new housing measures, hit back by spotlighting PPP leader Jang Dong-hyuk’s ownership of four apartments.

Jang countered the attack at a press briefing in the National Assembly, saying, “The combined value of those four apartments is about 660 million won,” and challenged Democratic floor leader Kim Byung-ki: “I’m willing to give him all my apartments and land in exchange for his single Jamsil Rose Apartment.”

Democratic lawmakers fired back, accusing Jang of staging a “phony display of humility.” Rep. Kim Jun-hyuk wrote on Facebook, “A genuine understanding of ordinary people’s lives comes not from rhetoric, but from shared experience and empathy. Stop mocking the public with this so-called ‘commoner cosplay.’”

Rep. Jeon Yong-gi also criticized Jang online, saying, “Instead of convincing the public, his comments sound like mockery. It’s hard to see his criticism of housing regulations as anything but an attempt to protect his own assets.”

The Democratic Party proposed a full investigation into lawmakers’ property holdings. At a press conference, chief spokesperson Park Soo-hyun said, “We understand the PPP has claimed there are many multiple-home owners in both the presidential office and our party. We urge them to accept our proposal for a comprehensive review of all lawmakers’ real estate assets.” Park also demanded that Jang step down as head of the PPP’s Special Committee on Real Estate Policy Reform.

Quoting a Korean proverb, Park said, “A tree with many branches is never free from the wind. The PPP should worry less about the breeze shaking others’ trees and more about the typhoon hitting its own.”

Jang responded later that day, telling reporters, “The Democratic Party keeps digging itself into a deeper hole. This isn’t the real issue at hand.”

Observers say both parties are more interested in attacking each other than addressing the underlying housing crisis. Political commentator Park Sang-byeong said, “Both sides are equally compromised on real estate. What we’re seeing is a mudslinging contest while ordinary Koreans without a single home continue to suffer. This political blame game shows the sad reality of our politics today.”