President Lee Jae-myung Declares 'Truce Week,' But Real Estate Feud Persists

Chung Cheong-rae, Leader of the Democratic Party, Declares 'Truce Week'... But Real Estate Disputes Continue

Democratic Party Leader Chung Cheong-rae's declaration of this week as a 'Truce Week' is drawing significant attention from the political sphere. This announcement comes amidst escalating tensions between the ruling and opposition parties over recent real estate policies. On October 27, 2025, Leader Chung stated, "To focus on resolving pressing issues directly related to the people's lives, we will refrain from political strife for the time being and concentrate on policy discussions." However, some analysts suggest that this announcement is an attempt to recoup recent declines in approval ratings and shift the narrative. In particular, with growing public dissatisfaction regarding the Lee Jae-myung administration's real estate policies, the Democratic Party aims to regain public support by demonstrating a commitment to avoiding political disputes and focusing on the people's livelihood. While the declaration of a truce week is generally viewed positively, questions remain about whether it can lead to tangible policy changes and improvements felt by the public. Observers both inside and outside the political arena are watching to see if this announcement will be a short-term image boost or a genuine shift toward people-centered policies. Critically, some point out that there will inevitably be limitations on policies that the Democratic Party can pursue unilaterally without cooperation from the opposition party. Meanwhile, despite Leader Chung Cheong-rae's 'Truce Week' declaration, the debate surrounding real estate policies is expected to continue. Although President Lee Jae-myung expressed his commitment to improving inter-Korean relations by announcing a reorganization of the Ministry of Unification on October 14, criticism of real estate policy failures continues from both the opposition and within the ruling party itself. In particular, the recently announced surge in real estate prices and the deepening housing shortage are placing a significant burden on the working class, leading to increased public discontent. In response, the People Power Party is intensifying its offensive by focusing on the Democratic Party's real estate policy failures. The People Power Party argues, "The incompetent real estate policies of the Democratic Party administration have led to soaring home prices and a housing crisis." They add, "The Democratic Party, which ignores the suffering of the people, is no longer qualified to represent the nation." Furthermore, the People Power Party is taking a hard line, demanding President Lee Jae-myung's resignation in response to the real estate policy failures. Under these circumstances, even with the Democratic Party's 'Truce Week' declaration, the opposition party's attacks on real estate policies are expected to intensify. Ultimately, regardless of the declared intention to refrain from political strife, real estate issues are likely to remain a major point of contention in the political sphere for the foreseeable future. Amidst concerns about the South Korean economic situation, news that the KOSPI reached 4,000 points and Samsung Electronics' stock price touched ₩100,000 during trading on October 27, 2025, can be interpreted as a positive sign. However, some analysts caution against being overly optimistic based solely on these indicators. In particular, with increasing uncertainty in the global economy, there are concerns that the rise in the KOSPI and Samsung Electronics' stock price may only be temporary. Moreover, the persistent instability factors in the economy, such as the surge in real estate prices, the deepening housing shortage, and the increase in household debt, cannot be overlooked. Therefore, it is argued that excessive optimism regarding the KOSPI reaching 4,000 points and the rise in Samsung Electronics' stock price should be tempered. The government must carefully analyze this economic situation and pursue policies that can drive genuine economic growth. In particular, comprehensive efforts are needed, including measures to stabilize the working class economy and easing regulations to promote corporate investment. The government, businesses, and the public must work together to ensure that the South Korean economy can take another step forward, taking advantage of the positive signals of the KOSPI rise and Samsung Electronics' stock price increase. Meanwhile, U.S. President Donald Trump's first visit to South Korea after his return to office is focusing attention on the situation on the Korean Peninsula. During his visit, President Trump is scheduled to hold a summit with South Korean President Lee Jae-myung to discuss cooperation measures to resolve the North Korean issue. In particular, President Trump officially proposed a 'meeting' to North Korean leader Kim Jong-un, expressing his willingness to improve U.S.-North Korean relations. However, North Korea has not yet issued an official response to President Trump's proposal, and the possibility of improving U.S.-North Korean relations remains uncertain. Some express hope that President Trump's visit to South Korea and the 'meeting' proposal to North Korean leader Kim Jong-un could have a positive impact on the Korean Peninsula peace process. However, there are also predictions that it will be difficult to achieve tangible results, given North Korea's continued uncertainty about denuclearization and the significant differences in positions between the U.S. and North Korea. Therefore, it is argued that excessive expectations regarding President Trump's visit to South Korea and the possibility of resuming U.S.-North Korean dialogue should be tempered. The South Korean government must strengthen the ROK-U.S. alliance and continuously pursue efforts to establish peace on the Korean Peninsula through dialogue with North Korea.