May 2022 – The government launches a temporary capital‑gains‑tax exemption for owners of multiple homes to stimulate the real‑estate market; the relief is renewed annually through 2025[8][9].

June 2025 – President Lee Jae Myung assumes office and inherits the multi‑home exemption, signalling a shift toward ending the annually‑extended loophole[8].

Jan 22, 2026 – President Lee posts on X, “extending the heavy capital gains tax exemption … is not under consideration,” reaffirming that the exemption will lapse in May and reminding the public of the 20‑point and 30‑point surcharges for two‑ and three‑home owners[11].

Jan 24, 2026 – Budget‑minister nominee Lee Hye‑hoon appears before parliament, denying fraud allegations, while President Lee announces the increased capital‑gains tax for multi‑home owners will take effect on May 9, 2026[10].

Jan 25, 2026 – President Lee rules out any extension, calling the exemption “an unfair benefit from an abnormality” and says a cabinet meeting will discuss a possible grace period for transactions completed before the May 9 deadline[9].

Jan 26, 2026 – President Lee decides not to extend the exemption, framing the move as “normalization” after its 2022 introduction and noting senior aide Lee Kyu‑yeon’s reassurance that the change is not a new tax hike[8].

Jan 27, 2026 – President Lee vows to curb excess capital inflows into housing, warns “we must not repeat Japan’s lost 30 years,” and reiterates that the multi‑home exemption ends on May 9, while hinting at ending other housing incentives[7].

Feb 2, 2026 – Cheong Wa Dae announces the exemption will end on May 9, 2026; spokesperson Kang Yu‑jung stresses the deadline to stop speculation and outlines the 6‑45 % base rates with 20‑point and 30‑point surcharges for multiple homes[6].

Feb 3, 2026 – Finance Minister Koo Yun‑cheol tells the cabinet that the exemption ends May 9, proposes a grace period of up to three months for Gangnam/Yongsan and six months for new speculative zones, and urges owners to act now to avoid the heavier tax burden[5].

Feb 3, 2026 – President Lee declares he will stop real‑estate speculation “by any means,” cites the May 9 tax change, points to a survey showing real‑estate investment falling to second place behind stocks, and appeals to youth affected by soaring housing costs[4].

Feb 4, 2026 – The cabinet weighs a three‑ to six‑month grace period for pre‑May sales; Lee stresses that people hurt by rising prices deserve priority and warns that post‑May taxes could reach 75 % with surcharges[3].

Feb 5, 2026 – President Lee warns multi‑home owners on X, writing “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 also attacks prosecutors over the Wirye corruption case[2].

Feb 5, 2026 – Finance Minister Koo announces that “supplementary measures to ease the tax change will be unveiled next week,” promises grace periods for Seoul’s hot districts, and pledges policies to protect renters and landlords amid the May 9 exemption deadline[1].