May 2022 – The government introduces a temporary capital‑gains‑tax exemption for owners of multiple homes to stimulate the real‑estate market, a relief that will be renewed each year until the Lee administration takes office [11].

2025 – The exemption is extended annually through May 2025, after which President Lee Jae Myung assumes the presidency in June 2025 and signals a shift toward ending the loophole [10].

Jan 22, 2026 – President Lee posts on X that “the exemption will not be prolonged,” calling the tax break “an unfair benefit from an abnormality” and ruling out any extension of the multi‑home capital‑gains tax exemption [13].

Jan 24, 2026 – During a budget‑minister nominee hearing, major newspapers report that the administration will place new real‑estate taxes on the legislative agenda and that the increased capital‑gains tax for multiple‑home owners will take effect on May 9 [12].

Jan 25, 2026 – Lee reiterates on X that the exemption expires on May 9 as originally set in February 2025 and says a Cabinet meeting will consider allowing the exemption for transactions completed before that deadline [11].

Jan 26, 2026 – Lee announces the exemption will not be extended, noting “Japan’s lost three decades” as a cautionary tale and emphasizing that the policy shift normalizes fiscal rules after pandemic‑era measures [10].

Jan 27, 2026 – At a Cabinet meeting, Lee vows to curb excess capital inflows into housing, warns that unchecked bubbles could repeat Japan’s 1990s crisis, and stresses that the multi‑home tax exemption ends on May 9 [9].

Feb 1, 2026 – Lee reaffirms the end of the tax pause, urging opponents not to “unfairly outsmart” the government and reminding the public that “there are still 100 days left” before the May 9 deadline; he adds, “No government can beat the market, but no market can beat the government either” [8].

Feb 3, 2026 – President Lee declares he will stop real‑estate speculation “by any means,” labeling speculation “utterly absurd” and noting that the exemption ends in May, which could raise capital‑gains rates up to 75 % with surcharges [5].

Feb 3, 2026 – Finance Minister Koo Yun‑cheol announces that the exemption ends on May 9, proposes a grace period of up to three months for Gangnam and Yongsan and up to six months for newly designated speculative zones, and urges owners to act now to avoid the heavier tax burden [6].

Feb 4, 2026 – Lee urges the government to prioritize home‑buyers over multiple‑home owners, notes that a Cabinet will weigh a three‑ to six‑month grace period for pre‑May sales, and warns that post‑May capital‑gains taxes could reach 75 % with surcharges [4].

Feb 5, 2026 – Lee warns multi‑home owners that “moving up to a higher‑value property? Let me be clear, it will not be in your interest to do so unless it is for residential use,” and critiques prosecutors over the Wirye corruption case [3].

Feb 5, 2026 – Finance Minister Koo says supplementary measures to ease the tax change will be unveiled next week, promises policies to protect renters and landlords, and outlines grace periods of up to three months for Seoul’s hot districts and up to six months for new speculative zones [2].

Feb 16, 2026 – President Lee calls for the removal of tax and regulatory perks for multiple‑home owners, stating they must bear responsibility for social problems and urging them to sell before the May 9 exemption ends, as part of his broader campaign to tame an overheated market [1].