Lee Seung-heon urges property taxes over rate hikes to cool housing prices, favoring stable rates amid weak growth.

Lee Seung-heon, a top candidate to lead the Bank of Korea, says higher property ownership taxes are needed to cool surging home prices and prevent inflation, urging against premature interest rate hikes despite rising bond yields. He supports maintaining the current 2.50% benchmark rate, citing weak growth and the need for financial stability. The won’s value near 1,465 per dollar is within a natural range, he notes, with sustained weakness below 1,450 signaling external concerns. His views align with President Lee Jae-myung’s push for real estate tax reforms, emphasizing fiscal and regulatory tools over monetary tightening to address housing market risks.