President Lee Jae Myung reiterated his determination to address disastrous real estate speculation “by any means necessary."

The president issued the position in a social media post on Tuesday, sharing an article criticizing conservative and business media coverage of the planned end of a grace period for heavier capital gains taxes on owners of multiple homes, set to expire on May 9.

He asked those who sympathize with multi-home owners seeking "unearned" income from speculation whether they had ignored the suffering of young people who forgo marriage and childbirth due to soaring housing costs.

Lee dismissed expectations of policy failure, saying conditions had fundamentally changed because real estate was no longer the sole investment option and alternative assets had emerged.

The president warned that it was the “last chance” for multiple-home owners to reduce their holdings before the exemption ends and that the government still had ample policy tools at its disposal.

He added that if South Korea could put even an attempted" insurrection" behind it and make a fresh start, it should also be able to tackle real estate speculation.