Lee: “All problems stem from real estate”

Feb 25, 2026, 07:46 am

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President Lee Jae-myung listens to remarks by Gender Equality and Family Minister Won Min-kyung during a Cabinet meeting at the presidential office on Feb. 24. /Yonhap

President Lee Jae-myung on Feb. 24 signaled a sweeping crackdown on farmland speculation, ordering a comprehensive inspection and review of potential forced sales as part of broader real estate reform efforts.

Speaking at a Cabinet meeting at the Blue House, Lee pointed to soaring farmland prices driven by speculative activity and warned that distortions in the property market lie at the root of wider social problems.

After receiving a report on population trends in declining regions, Lee said, “These days, even those who want to return to farming or rural communities say it is difficult because farmland prices are too high. We must lower the cost of returning to farming, and fundamentally, that means bringing down land prices.”

He instructed officials to review measures including a full-scale investigation into illegal activities and possible sale orders. “If necessary, we should deploy large-scale manpower to conduct a comprehensive inspection and issue sale orders,” Lee said, calling for a formal review of the proposal.

Lee stressed that structural reform of the real estate market is essential. “This is all a problem arising from abnormally high real estate prices,” he said. “In any case, the source of all problems in this country is real estate.” He added that through taxation, regulation and financial measures, the government must ensure that holding property for speculation or investment purposes becomes effectively meaningless. “Without fundamental measures, normal development of our society is impossible,” he said.

Separately, Lee addressed the age threshold for juvenile offenders, suggesting that the minimum age of criminal responsibility be lowered from 14 to 13. “It seems that an overwhelming majority believes it should be lowered by at least one year,” he said, proposing that the government gather public opinion and reach a conclusion within two months.

Lee also received a report from the Fair Trade Commission chief on staffing levels and underscored the need for tougher enforcement against illegal collusion. “If you dig around any neighborhood, everything is dirty, so we must fix it all,” he said. He proposed significantly increasing rewards for whistleblowers, suggesting that reporting large-scale illegal gains — such as 400 billion won — could merit rewards of several hundred billion won. “Make it so people think, instead of buying lottery tickets, they should expose collusion,” he said.

In addition, Lee noted that public enthusiasm surrounding the 2026 Milan–Cortina Winter Olympics had not risen sufficiently and called for institutional improvements regarding broadcasting rights for major international sporting events such as the Olympics and the World Cup.

#Lee Jae-myung #Blue House #farmland speculation #real estate reform