President Lee Jaemyung said on the 27th, “The National Assembly is currently moving too slowly to get any work done.” Even though the combined seats of the Democratic Party of Korea and pro-government parties reach 180, the legislative speed supporting government policies is too slow, he added.
The president’s remarks came during a Cabinet meeting that day, where he instructed Lim Kwang-hyun, Commissioner of the National Tax Service, to devise measures for the swift collection of delinquent national tax and other revenues. When Commissioner Lim mentioned the need for legal revisions to allow joint collection efforts across government agencies, President Lee said, “The problem is that even legislation on the government’s basic policy directions — after nearly eight months since our inauguration — has only reached 20%. We cannot keep waiting.”
President Lee ordered the formation of task forces (TFs) using personnel from each ministry to proceed with joint collection efforts before legal revisions. When Commissioner Lim suggested, “Revising the law might be faster,” President Lee raised his voice: “Oh, come on. Start now. Who knows when that will happen? Are we just going to wait?” He reiterated, “This is why we need emergency measures. Speed is crucial in administration. We cannot afford to wait,” urging the use of all available means before legislation is passed.
Political circles interpreted this as the president venting frustration over the slow processing of livelihood and economy-related bills. The Democratic Party, holding 162 seats, has pushed through contentious bills opposed by the opposition since the current government took office. These include the Government Organization Act to abolish the Prosecutors’ Office, the Insurrection Tribunal Establishment Act (which sparked constitutional concerns), and the False and Manipulated Information Eradication Act (a revision of the Information and Communications Network Act), criticized by pro-government civic groups for infringing on freedom of expression. However, delays in other bills appear to have prompted the president’s remarks. Han Byung-do, the Democratic Party’s floor leader, had said at a Cheong Wa Dae-hosted dinner on the 19th, “Based on 20 months since the National Assembly’s opening, the 22nd Assembly’s legislative passage rate is 20.2%, the lowest compared to the 21st and 20th Assemblies. We apologize to the public.”
Regarding the postponement of the heavy capital gains tax on multiple homeowners, President Lee said at the meeting, “When we extended this last year, we clearly stated it would be for one year, ending on May 9 this year. We must not change policies based on who has power or not.” After mentioning the resumption of the tax during his New Year’s press conference and on social media (SNS), he reiterated, “There will be no extension,” dismissing market concerns.
He called demands for an extension “unfair expectations” and criticized attacks framing the tax resumption as “new,” stating, “We must not be swayed by unfair criticism.” He emphasized, “We must correct the distorted resource allocation excessively focused on real estate. Over-expansion of unproductive real estate inevitably creates bubbles. We must not tolerate injustice and abnormality out of fear of immediate pain or resistance.”
At his New Year’s press conference on the 21st and in SNS posts on the 23rd and 25th, President Lee hinted at ending tax benefits for multiple homeowners, raising holding taxes, and correcting real estate malpractices. He also mentioned the possibility of an additional budget (supplementary budget) at the meeting, saying, “Though we don’t know when, we won’t rule it out.”
He also addressed expanding the authority of the Financial Supervisory Service’s special judicial police, including granting them investigative powers. Currently, their authority is limited to cases under prosecutors’ direction. While discussions led by Justice Minister Jung Sung-ho have raised concerns about granting investigative powers to a private entity, President Lee’s remarks were seen as endorsing the expansion.
