President ties political credibility to enforcement as markets test whether housing policy will buckle under pressure

South Korean President Lee Jae Myung has deliberately elevated housing policy into a test of political authority, using the looming May 9 expiration of capital gains tax relief for multiple homeowners to force a confrontation with markets, voters and the opposition at a moment of high electoral sensitivity.

This escalation reflects a calculated decision to frame real estate policy as a question of enforcement as local elections approach, and in the face of deeply entrenched public skepticism shaped by past failures.

South Korean President Lee Jae Myung has deliberately elevated housing policy into a test of political authority, using the looming May 9 expiration of capital gains tax relief for multiple homeowners to force a confrontation with markets, voters and the opposition at a moment of high electoral sensitivity.

This escalation reflects a calculated decision to frame real estate policy as a question of enforcement as local elections approach, and in the face of deeply entrenched public skepticism shaped by past failures.

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