Anchor: Rival parties are clashing over the idea of cutting tax benefits for multi-home owners with registered rental units, which President Lee Jae Myung said could help stabilize the housing market. The ruling Democratic Party says it will totally eradicate real estate speculation while the main opposition People Power Party argues it will end up disrupting the rental market. 
Our Bae Joo-yon has more. 

Report: The ruling Democratic Party(DP) on Tuesday introduced a bill that aims to establish an agency that will supervise the real estate market, which it says has been used as a playground for speculative forces for far too long. 

DP floor leader Han Byung-do said during a party strategy meeting that "the era of cheating," when people's dreams of owning a home are shattered by market price manipulation and jeonse lump-sum deposit rental fraud, must now come to an end. 

He emphasized that homes should serve as a place to live instead of as a means of speculation. 

Han also took aim at the main opposition People Power Party(PPP) for criticizing the government's efforts to tighten housing regulations, accusing the rival camp of shielding speculative forces with its "tantrums."

The PPP, meanwhile, said the government was villainizing specific types of homeowners as being responsible for the housing shortage while neglecting structural issues in the housing market.

The PPP claimed that pressuring registered rental business operators with taxes would lead to a decline in lease properties, ultimately harming tenants.

PPP floor leader Song Eon-seog said that scaling back tax benefits for registered landlords will significantly destabilize the multi-unit and multiplex housing markets where low-income families and the socially vulnerably are estimated to be the primary renters. 

The PPP said the only solution to real estate market problems is expanding supply and called for the revitalization of private redevelopment and reconstruction via eased regulations. 
Bae Joo-yon, KBS World Radio News.