Political Clash Erupts in South Korea Over Real Estate Holdings

A public exchange between President Lee Jae-myung and People Power Party leader Jang Dong-hyuk has ignited a political dispute in South Korea, centering on real estate ownership and accusations of divisive tactics. The conflict arose after President Lee questioned Representative Jang’s multiple homeownership, prompting a strong rebuke from the opposition party.

Accusations and Counterclaims

President Lee Jae-myung raised the issue of Representative Jang Dong-hyuk’s property holdings during a public inquiry on February 16, 2026. The People Power Party swiftly condemned the President’s remarks as “a despicable incitement to divide sides” and a “hunt for the devil.”

Representative Jang responded by expressing concern for his 95-year-old mother, stating that the President’s comments were causing her worry. He further criticized the President’s actions in a Facebook post titled “Unfilial Sons Cry,” indirectly referencing President Lee’s own real estate holdings.

Defense of Property Ownership

In an apparent effort to counter President Lee’s criticism, Representative Jang released photos of a traditional house in the countryside where his mother resides. This move aimed to contextualize his property ownership and deflect accusations of speculative investment.

Party Responses and Criticisms

Park Seong-hoon, the People Power Party’s chief spokesperson, strongly protested President Lee’s comments, accusing him of employing “black-and-white logic and incitement of good and evil.” He argued that the President’s approach was a “typical partisan and low-level trick” designed to deflect criticism of his administration’s real estate policies.

Park further asserted that the People Power Party is committed to eradicating real estate speculation but rejects the notion that all multiple homeowners are inherently unethical. He criticized the President’s policies for failing to stabilize the market, noting a shortage of jeonse (long-term deposit-based rentals) and rising monthly rents.

Other lawmakers, including Joo Jin-woo, also criticized President Lee’s real estate policies, pointing to increases in house prices and monthly rents during his term. Former lawmaker Yoon Hee-sook echoed these concerns, questioning the President’s economic understanding and warning against repeating past policy mistakes that led to market instability.

Broader Implications

The exchange highlights the ongoing debate in South Korea regarding real estate policy and the challenges of addressing housing affordability. The controversy underscores the political sensitivities surrounding property ownership and the potential for accusations of hypocrisy and divisive tactics.

angela0204@news1.kr