President Lee Jae Myung said the administration's drive to stabilize the real estate market is aimed at retrieving unfair privileges from investment and speculation, and imposing corresponding burden on those that enjoy such privileges.

On social media Saturday, Lee denied he was forcing multi-homeowners to sell their excess housing, but that he was seeking to normalize the overheated market.

The president attached a news article about main opposition People Power Party(PPP) leader Jang Dong-hyeok's criticism of him taking issue with the extension of loans for multi-homeowners.

Lee said it would be fair to protect single-homeowners, and to apply coinciding taxation and regulatory responsibility and burden on multi-homeowners that make excessive amounts of unearned income, causing damage to young people that do not own a home.

The president said he was not forcing people to sell their properties, but pushing to modify the law and system to incur economic losses for multi-homeowners.

He also refuted criticisms about his ownership of an apartment unit in the regulated Bundang area in Gyeonggi Province, saying he is a single-homeowner and intends to return to his Bundang home after the end of his presidency.