Lee Jae Myung
Candidate registration opens for June 3 local elections
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Candidate registration opened Thursday for South Korea's June 3 local elections and parliamentary by-elections, seen as a key test of public sentiment toward President Lee Jae Myung's first year in office.
President Lee Jae Myung reaffirmed his commitment to reining in South Korea's overheating housing market on May 6, 2026. He called real estate market normalization an inevitable trend and a key national policy task. Lee shared the remarks on his X account alongside an article forecasting a downward trend in house prices.
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Rival parties continued to clash on May 4 over the ruling Democratic Party's (DP) push for a special counsel bill to probe alleged evidence fabrication by the prosecution under the previous Yoon Suk Yeol administration. The bill targets 12 ongoing cases, including eight linked to President Lee Jae Myung. The main opposition People Power Party (PPP) denounced it as an unconstitutional bid to shield Lee.
President Lee Jae Myung criticized politicians on social media platform X on February 18 for encouraging multiple home purchases for investment, calling them the "real ills" of society. The remarks responded to main opposition leader Rep. Jang Dong-hyeok, who called Lee's recent posts on the real estate market "pathetic" and accused him of stigmatizing multiple home owners. Lee has repeatedly urged such owners to sell their properties before a heavy capital gains tax exemption expires in May.
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President Lee Jae Myung has urged multiple home owners to sell via social media, labeling real estate speculation as leading to 'national ruin.' The government is considering ending the grace period for punitive capital gains taxes on May 9, while housing supply plans face delays. Experts argue that legislation and follow-up measures matter more than harsh rhetoric.