PPP steps up attack on Lee, says public fears real estate policy

Feb 19, 2026, 09:06 am

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A sculpture covering the People Power Party’s former name is installed at its central headquarters in Yeouido, Seoul, on Feb. 18, as the party finalizes preparations to unveil a new party name ahead of the March 1 announcement. /Yonhap

The People Power Party intensified its offensive against Lee Jae-myung over his real estate policy remarks, even on the final day of the Lunar New Year holiday, arguing that this year’s Seollal public sentiment was dominated by concerns about housing.

The party stressed that expanding housing supply — not tightening regulations — should be the core direction of policy.

Rep. Song Eon-seok, the party’s floor leader, wrote on Facebook on Feb. 18, “The issue I heard most about during the holiday was real estate,” adding that many people found it difficult to accept what they saw as the administration blaming the opposition for surging apartment prices in Seoul.

He argued that the spike in Seoul apartment prices stemmed from the Lee administration’s failure in supply policy. “There was strong anger among workers in their 30s who said they cannot afford to buy homes under a loan-restriction–focused policy that benefits only those with large cash assets,” Song said, adding that public frustration over deepening polarization was growing.

Song further claimed that the root cause of what he called the “29 losses out of 29 attempts” in real estate policy under the Moon Jae-in administration was fundamentally a shortage of supply. “Unless the chronic supply shortage is resolved, no remedy will work,” he said. “The Lee administration must not follow the path of ‘Moon Jae-in Season 2.’”

In a separate commentary, senior spokesperson Park Sung-hoon criticized President Lee for labeling multi-home owners as a “social evil” on social media throughout the holiday. He said the main topic at family gatherings was what he described as the president’s “real estate dictatorship that intimidates the public.”

Chief deputy floor spokesperson Choi Eun-seok also said President Lee’s repeated real estate-related posts on X (formerly Twitter) were unsettling daily life. “It is hard to view it as normal for the top state leader to stimulate the market with emotional language instead of policy,” he said.

Rep. Na Kyung-won called for regulatory reforms to enable private-sector-led housing supply and urged large-scale urban redevelopment in Seoul and the greater metropolitan area.

She further questioned whether President Lee’s criticism of multi-home owners could fuel rumors that the administration’s housing policy was linked to efforts to artificially prop up the stock market, saying such suspicions could gain traction if left unaddressed.

#People Power Party #Lee Jae-myung #real estate policy