On the 14th, President Lee Jae Myung said, regarding the government's review of reforming real estate taxes such as the holding tax, “It is not true that taxes are being used to control home prices.”

At the Cabinet meeting he chaired at the Blue House that day, he said, “Because taxation has failed to fulfill its basic function, it has become a factor that triggers real estate speculation, and normalization is needed.”

He said, “In the Republic of Korea's real estate tax system, equitable taxation is most important, but in the housing sector the tax regime is highly distorted,” and “The problem is that it has been overly modified by granting this deduction and that deduction, to the point that it is not performing its basic function.”

He stated, “The primary aim is not to try to suppress home prices through taxation; normalization is the primary goal,” and “Second, it would be good if people understand that we need to mitigate the side effects that induce speculation.”

During the live broadcast of the Cabinet meeting, he asked viewers, “If you agree that, for an owner-occupied single home that is ultra-high-priced, it would be better to impose an added holding burden rather than the usual protection, press 1; if not, press 2.”

He said, “There is a long-standing problem in our society of the so-called single solid home,” and “There is controversy over whether it is right to provide nearly the same relief for an ultra-high-priced home, a 10 billion won home, simply because it is an owner-occupied single home.”

He asked Im Gi-geun, head of the Office for Government Policy Coordination, “What is the proportion between 1 and 2?”, and Im reported, “Most of the comments are 1.”