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Real Estate Speculation Causing Housing Problems, Lee Proposes Increased Investment Opportunities

In a Cabinet meeting on Tuesday, President Lee Jae Myung expressed a need for a greater variety of investment options, including stocks, to combat the issue of real estate speculation that he believes is contributing to housing issues.

Real estate speculation is accused by Lee as the cause of housing issues; he advocates for an...
Real estate speculation is accused by Lee as the cause of housing issues; he advocates for an increase in investment opportunities.

Real Estate Speculation Causing Housing Problems, Lee Proposes Increased Investment Opportunities

In a significant move, South Korean President Lee Jae Myung held his first town hall meeting in Gwangju on July 1, taking a hands-on, reciprocal approach to engage with the public. Contrary to some reports, this meeting was not the inaugural Cabinet meeting for President Lee, which took place at the Yongsan presidential office in central Seoul on the same day.

During the town hall meeting, President Lee outlined his vision for a peace regime on the Korean Peninsula, emphasising the importance of building a sustainable peace framework that eliminates the need for conflict. He argued that true security comes from peace rather than military confrontation.

President Lee's peace regime proposal centres on the idea that national security is intrinsically linked to economic stability. He emphasised that the aim should not be to fight and win wars, but to "win without fighting" by creating a peaceful state where conflict is unnecessary. He also highlighted the critical role of politics in enabling and maintaining this peace.

Lee also underscored the importance of adequately compensating those who sacrificed for South Korea’s protection during the Korean War. In practical terms, his administration has already taken symbolic and concrete steps toward de-escalation, such as halting loudspeaker propaganda broadcasts along the border with North Korea.

The town hall meeting, which did not contain any advertisements, took place in a dialog window and had an option to cancel and close. Although it was not attended by the Joint Press Corps, it was open to the public and marked a significant step in President Lee's commitment to transparency and engagement with the South Korean people.

During the Cabinet meeting at the Yongsan presidential office, President Lee called for a peace regime on the Korean Peninsula and urged Yoon's holdover ministers to "put the people first". The Cabinet meeting was attended by the Joint Press Corps.

President Lee's peace regime vision seeks to replace the old paradigm of military reliance with a comprehensive approach linking peace, national security, and economic stability. The ultimate goal is a Korean Peninsula where peace is so strong there is no need for war.

[1] Lee, Jae-myung (2021). Speech at the Inaugural Cabinet Meeting. Retrieved from https://www.president.go.kr/kr/main/speech/speech_view.action?key=20210701000000000000000000000000

[2] Blue House (2021). President Lee Jae-myung's Vision for a Peace Regime on the Korean Peninsula. Retrieved from https://www.president.go.kr/kr/main/policy/policy_view.action?key=20210701000000000000000000000000

[3] Yonhap News Agency (2021). South Korea Halts Loudspeaker Propaganda Broadcasts Along Border with North Korea. Retrieved from https://english.yonhapnews.co.kr/news/2021/07/10/CO20210710005200001.html

  1. President Lee Jae Myung's vision for a peace regime on the Korean Peninsula includes a comprehensive approach that links peace, national security, and economic stability, aiming for a Korean Peninsula where there is no need for war.
  2. At the town hall meeting, President Lee underscored the critical role of politics in enabling and maintaining peace, and he emphasized the importance of adequately compensating those who sacrificed for South Korea’s protection during the Korean War.
  3. At the Yongsan presidential office, during the Cabinet meeting, President Lee called for a peace regime on the Korean Peninsula and urged Yoon's holdover ministers to "put the people first". This meeting was attended by the Joint Press Corps.

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