President Lee, Continues ‘Storm Uploads’ on SNS... Communicating Directly with the Market, "There is No Market that Beats the Government"

President Lee Jae-myung has strengthened his so-called 'direct public opinion campaign' through social networking services (SNS), embarking on a frontal assault for the stability of the real estate market. This is interpreted as a plan to imprint the government's resolve to solve issues and secure policy momentum by sending strong messages to the market in real-time from the highest decision-maker.

On the 1st, President Lee shared an article addressing the side effects of regulations on multiple homeowners via X (formerly Twitter), directly questioning, "Why do you side with speculation when you see the country being ruined by real estate speculation?" He particularly criticised the expression of the tax burden on multiple homeowners as a 'thunderbolt', stating, "Do not try to win unfairly, but make use of the opportunity for tax reduction (grace period)" and added, "There are still 100 days left," leaving a warning message.

Earlier, on the 26th of last month, President Lee firmly stated regarding the grace period for the transfer tax increase for multiple homeowners, which ends on May 9, that "an extension of the period is not being considered at all." He further asserted, "There is no government that beats the market, but there is also no market that beats the government," expressing strong confidence in normalising the abnormal.

President Lee's SNS has also become a battlefield targeting criticisms from the opposition and certain media reports. In response to the opposition's question, "Why couldn't you achieve such an easy normalisation of real estate?", President Lee posted late at night, stating, "There are those who cannot understand properly, like kindergarteners," reiterating his point. This is explained as an assertion that he can achieve real estate stability just as he has with his 'KOSPI 5,000' or 'valley maintenance' achievements.

Towards specific media reports, he also stated, "Please refrain from defending ruinous speculation or from 'unjust criticism' of the government," sharpening his stance. This is interpreted as a determination to preemptively block factors that could cause cracks in public support for policies.

In the political arena, attention is being drawn to the background of President Lee's increased SNS public opinion campaigns. It is analysed that he has pulled out the most powerful weapon of 'the President's direct message' to dispel the scepticism in the market accumulated due to past government failures in real estate policy. The calculation is to find the driving force for policy realisation in the formed supportive public opinion.

Around the presidential office, it is believed that real-time policy communication will provide clear signals to market participants, effectively suppressing speculative sentiment. However, there are concerns that the unrefined language of the head of state could provoke unnecessary political strife and increase market uncertainty.