President Lee Jae Myung has just declared war on South Korea’s shadow landlords. In a BLAZING social media post, he took direct aim at the “buy-to-rent” system, the secret weapon of the rich that is CRUSHING the dream of homeownership for regular citizens.
He is not just talking. He posted a damning KBS News report showing apartment sales in Seoul SURGING by 1.8 percent in just FOUR DAYS. This isn’t normal. This is a frenzy. The article explicitly points to the luxurious Han River districts—the playground for mega-owners who hoard dozens of homes.
These wealthy operators legally register as a “business,” then gorge on existing housing stock to lease it back to the desperate public. Lee calls it ODD. It’s more than odd—it’s a legalized SCAM. He understands building new rental homes, but this? This is pure financial predation, inflating prices and locking out an entire generation.
The president’s repeated vows to stabilize housing are now clashing with this elite-friendly loophole. His message is a clear signal: the registration system that enables this hoarding is now in the crosshairs.
This is a desperate fight for the soul of the nation’s housing market. Landlords win. YOU lose. And the silence from the powerful real estate lobby is deafening.
Ask yourself: who really owns your city?
Edited for Kayitsi.com
Author: Kayitsi.com
