May 2022 – The government launches a temporary capital‑gains‑tax exemption for owners of multiple homes to stimulate the real‑estate market, a relief that will be renewed annually until the Lee administration halts it in 2026 [7][8].

June 2025 – President Lee Jae Myung assumes office, inheriting the multi‑home tax exemption and pledging to normalize fiscal policy after pandemic‑era measures [7].

Jan 22, 2026 – Lee posts on X that “extending the heavy capital‑gains‑tax exemption is not under consideration,” closing the door on further relief and warning that the three‑year exemption “distorts market signals” [10].

Jan 24, 2026 – Budget‑minister nominee Lee Hye‑hoon testifies before parliament, denies fraudulent housing claims, and the media report that the administration will place new real‑estate taxes on the legislative agenda, with the increased capital‑gains tax slated to take effect on May 9 [9].

Jan 25, 2026 – Lee reiterates on X that the exemption will expire on May 9 as set in February 2025, calling it “an unfair benefit from an abnormality” and announcing a forthcoming cabinet meeting to discuss whether pre‑May 9 transactions can retain the break [8].

Jan 26, 2026 – Lee announces he will not extend the multi‑home tax exemption, citing its origin in May 2022 and warning that “excessive speculation could echo Japan’s lost three decades,” thereby framing the move as a normalization effort [7].

Jan 27, 2026 – At a cabinet meeting, Lee vows to curb excess capital inflows into housing, reaffirms the May 9 expiry of the exemption, and cites Japan’s “lost 30 years” as a cautionary example for South Korea’s economy [6].

Feb 1, 2026 – Lee reaffirms the May 9 deadline, warns opponents not to “unfairly outsmart” the government, declares no extension is being considered, and simultaneously launches a public debate on a proposed sugar‑levy, showing his use of X for policy outreach [5].

Feb 2, 2026 – Cheong Wa Dae officially announces that the multi‑home capital‑gains‑tax exemption ends on May 9, with rates ranging 6‑45 % plus 20‑point or 30‑point surcharges for two or three homes, and spokesperson Kang Yu‑jung says tax revision remains a last resort if other measures fail [4].

Feb 3, 2026 – Finance Minister Koo Yun‑cheol briefs the cabinet that the exemption ends May 9, proposes a grace period of up to three months for Gangnam/Yongsan deals and up to six months for newly designated speculative zones, and stresses the change will “normalize abnormality and unfair practices” [2].

Feb 3, 2026 – President Lee posts on X that he will stop real‑estate speculation “by any means,” calls it “utterly absurd,” and cites the upcoming tax hike as a necessary step, while appealing to youth by referencing the “blood and tears of millions of young people” affected by soaring housing costs [3].

Feb 3, 2026 – Lee continues daily X messaging, urging that “people suffering from a jump in housing prices deserve more consideration than multiple homeowners,” and notes the cabinet will weigh a three‑ to six‑month grace period to ease the impact of taxes that could reach 75 % with surcharges [1].

Feb 4, 2026 – Lee emphasizes prioritizing home‑buyers over multi‑homeowners, highlights the difficulty for owners trying to sell before the May deadline, and reiterates that the cabinet will consider a grace period while potential tax burdens may rise sharply to 75 % with surcharges [1].