The Korea Times

President may need to moderate policy push following local election outcome: analysts

Following the recent local elections, President Lee Jae Myung may need to moderate the pace of his policy agenda to more flexibly reflect public sentiment, as evidenced by voter concerns over housing issues in Seoul, analysts said Friday. "The Seoul mayoral election result suggests that the government will likely have to proceed more cautiously with its push for real estate regulation, as housing issues were a major factor behind the ruling party's defeat," a political commentator said, asking not to be named. He went on to say, “The implications could extend beyond housing to other politically sensitive issues that affect people's livelihoods." He pointed to how Oh Se-hoon, the incumbent Seoul mayor from the main opposition People Power Party (PPP), won reelection after overcoming an early deficit against Democratic Party of Korea (DPK) candidate Chong Won-o. The DPK contender's loss overshadowed the ruling party's victories in 12 of the 16 races for metropolitan and provincial leadership posts. The mounting frustration of home owners over the Lee administration’s real estate regulat