South Korean President Directs Exclusion of Multi-Homeowners from Housing Policy Discussions

On March 22, 2026, South Korean President Lee Jae-myung instructed the presidential office and cabinet to exclude individuals with multiple homes, owners of non-occupancy high-value properties and those with excessive real estate holdings from discussions, formulation, reporting, and approval processes related to housing and real estate policies. This directive signals a strong commitment to addressing the country’s real estate issues.

Addressing the “Republic of Real Estate”

President Lee emphasized that escaping the “Republic of Real Estate” is a core task in South Korea’s overall transformation. He stressed the need for absolute flawlessness in housing and real estate policies, stating that even a 0.1% defect or loophole is unacceptable. The President questioned the rationale for including those with vested interests in the policy-making process, suggesting their exclusion is warranted.

Housing Policy as a Defining Issue

Lee underscored the critical importance of stabilizing housing prices, framing it as a matter of national destiny and a key determinant of his administration’s success. He connected affordable housing to fundamental aspects of life, such as building families and raising children.

Additional Government Actions

Alongside the presidential directive, the South Korean government is preparing a 25 trillion won supplementary budget to address the economic fallout from the Middle East situation. The budget will be funded by tax surpluses, minimizing the impact on the national debt and foreign exchange markets. The government plans to submit the budget to the National Assembly swiftly, with the Democratic Party requesting expedited processing to ensure a timely response to the evolving situation. JoongAng Ilbo

Curriculum Concerns and Mathematics Education Reform

Separately, concerns are rising regarding students giving up on mathematics. According to the educational civic group ‘World Without Worries About Private Education’, the number of students alienated from mathematics learning increased by 9.5 percentage points from 2021 to 2023, reaching 30.8%. Criticism centers on the current evaluation-centered education system and fragmented curriculum. The Ministry of Education plans to restructure mathematics education to reduce the learning burden and foster mathematical thinking skills, with proposed changes to the curriculum expected to be presented to the National Education Committee. JoongAng Ilbo