Lee says ‘republic of unearned real estate income’ will come to an end

President Lee Jae Myung on Monday warned against tax evasion in real estate transactions, reiterating his administration’s drive to keep the market in check.

“Illegal real estate speculation and tax evasion can no longer be tolerated.

We must break free from this ruinous republic of unearned real estate income,” he wrote on his X account, sharing a link to a news article about real estate tax evasion.

The Lee administration has stressed the need to contain the country’s real estate market from t ...