South Korea's President Lee Jae Myung Targets Property Tax Revisions

South Korean President Lee Jae Myung invoked Japan's 1990s property crash while discussing real estate concerns in Seoul. He indicated that real assets represent 75.8% of household wealth as of March 2025, a significant concentration compared to financial assets at 24.2%. Lee's administration aims to stabilize the housing sector through tax revisions amid rising property prices. Although there are worries about a potential housing market decline, economists believe the probability of a bubble burst is limited due to tightened mortgage lending conditions. This situation affects ordinary investors by highlighting risks in the South Korean property market.