South Korean President Lee Jae-myung directly criticized opposition leader Jang Dong-hyuk over the latter’s recent social media posts concerning tax policies, escalating a dispute over real estate regulations. The exchange, unfolding during the Lunar New Year holiday, centers on proposed changes to capital gains taxes on multiple homeownership.
The conflict began after Jang, the newly elected leader of the People Power Party, posted images on Facebook purportedly showing his 95-year-old mother’s rural home. He accompanied the images with a statement questioning the President’s policies, suggesting they would negatively impact elderly homeowners in the countryside. Jang’s posts included claims about conversations with residents at a local community center and a reference to visiting the President’s apartment, characterizing it as a “5 billion won apartment.”
President Lee responded on X (formerly Twitter) with a direct question to Jang, asking whether the People Power Party believes that owners of multiple homes should be protected and continue to benefit from existing financial and tax advantages. Lee framed the debate as a question of whether housing should be treated primarily as a dwelling or as an investment vehicle, arguing that speculative purchases drive up housing costs and limit affordability for ordinary citizens.
The exchange quickly drew scrutiny as reports emerged detailing Jang’s own property holdings. Jang owns six properties, including apartments, raising questions about the sincerity of his portrayal as a defender of ordinary homeowners. Critics pointed out that his claims about the impact of the tax policy on rural residents were misleading, as the capital gains tax adjustments primarily affect properties in designated “adjustment target areas” – largely concentrated in Seoul and parts of Gyeonggi Province – and do not apply to his mother’s home in Boryeong City, Chungcheongnam-do.
Jang’s Facebook posts included a photograph dated 2022, further fueling criticism about the accuracy of his representations. He repeatedly asserted that the President was unfairly characterizing multi-homeowners as inherently problematic, without offering specific alternative policy proposals.
The dispute comes as the Lee administration seeks to address rising housing costs and curb speculation. The proposed changes to capital gains taxes have sparked intense debate, with the opposition arguing they will harm property owners and stifle investment. Lee’s direct challenge to Jang marks an unusual escalation in the political rhetoric surrounding the issue.
As of February 18, 2026, neither side has indicated a willingness to compromise, and further debate is expected when the National Assembly reconvenes.
