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    "headline": "Lee Hyung-il Nominee Prioritizes Housing Supply for Market Stability",
    "dek": "Lee Hyung-il, nominee for Deputy Prime Minister, emphasizes expanding housing supply to stabilize the Korean real estate market.",
    "prose": "Lee Hyung-il asserted that the fundamental key to stabilizing the real estate market is an increase in the quantity of housing supply. [^1]\n\nLee Hyung-il, nominee for Deputy Prime Minister and Minister of Finance, stated on September 2, 2026, that the government will maintain its core framework of establishing a resident-centered housing market and expanding housing supply. [^2]\n\nThe South Korean government announced plans to relocate the Ministry of Justice and the Ministry of Gender Equality and Family to Sejong. [^3]\n\nSouth Korea's government announced on September 3, 2026, that it will move central administrative agencies remaining in the Seoul metropolitan area to the special self-governing city of Sejong starting in the first half of 2027. [^4]\n\nLee Hyung-il explained that while the tax differential between resident and non-resident owners will be eased, a distinction remains, setting the basic deduction at 1.4 billion won for resident single-homeowners and 1.2 billion won for non-resident single-homeowners. [^5]\n\nThe government finalized a revised tax reform plan on August 31, 2026, which maintains the basic deduction for comprehensive real estate tax for non-resident single-homeowners at 1.2 billion won, reversing an earlier plan to lower it to 900 million won. [^6]\n\nPrime Minister Han Seong-sook stated that the relocation will begin with organizations that have large relocation sizes and significant ripple effects. [^7]\n\nThe government aims to complete a second presidential office in the administrative city of Sejong by August 2029. [^8]\n\nAn official involved in the announcement requested that the relocation process be handled quickly. [^9]",
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