May 2022 – The government launches a temporary capital‑gains‑tax exemption for owners of multiple homes to stimulate the real‑estate market, setting a base rate of 6‑45 % with extra 20‑point and 30‑point surcharges for two‑ and three‑home owners in speculative zones [16].

2022‑2025 – Successive administrations, including President Yoon Suk‑yeol’s, repeatedly extend the exemption, postponing the reinstatement of a heavy 75 % capital‑gains tax and allowing multiple‑home investors to avoid higher levies for almost four years [1].

Jan 22, 2026 – President Lee Jae Myung posts on X that “extending the heavy capital‑gains tax exemption … is not under consideration,” arguing the break is an “unfair benefit from an abnormality” and must end in May 2026 [18].

Jan 24, 2026 – Major newspapers report the government’s plan to place new real‑estate taxes on the legislative agenda and confirm President Lee’s announcement that the increased capital‑gains tax will take effect on May 9 [17].

Jan 25, 2026 – Lee reiterates on X that no extension of the exemption will occur, notes a forthcoming cabinet discussion on whether pre‑May 9 transactions can retain the break, and warns opponents not to “unfairly outsmart” the government [16].

Jan 26, 2026 – Lee officially ends the multi‑home tax exemption, citing Japan’s “lost three decades” as a cautionary tale and emphasizing that the exemption, introduced in May 2022, will not be renewed [15].

Jan 27, 2026 – At a cabinet meeting, Lee vows to curb excess capital inflows into housing, reiterates the May 9 deadline, and warns that unchecked bubbles could repeat Japan’s prolonged stagnation [14].

Feb 1, 2026 – Lee reaffirms the May 9 termination, declares “There are still 100 days left,” and says the government has “plenty of means to normalize what is abnormal,” while dismissing any extension [13].

Feb 2, 2026 – Cheong Wa Dae announces the exemption ends on May 9 2026; Finance Minister Koo Yun‑cheol urges owners to act now, and spokesperson Kang Yu‑jung stresses the deadline to quell speculation [12].

Feb 3, 2026 – Koo confirms the May 9 end date, proposes a grace period of up to three months in Gangnam/Yongsan and six months in new speculative zones, and urges owners to treat it as the “last opportunity” to avoid heavier taxes [11].

Feb 3, 2026 – President Lee declares he will stop real‑estate speculation “by any means,” labels the practice “utterly absurd,” and notes the tax exemption’s lapse will raise capital‑gains rates up to 75 % with surcharges [10].

Feb 4, 2026 – Lee stresses that home‑buyers suffering from price spikes deserve priority over multiple‑home owners, mentions a possible three‑ to six‑month grace period for pre‑May sales, and warns the post‑May tax burden could reach 75 % [9].

Feb 5, 2026 – Lee warns multi‑home owners that “moving up to a higher‑value property … will not be in your interest unless it is for residential use,” and highlights the imminent end of the tax break on May 9 [8].

Feb 5, 2026 – Finance Minister Koo announces supplementary measures to ease the tax change will be unveiled next week, including possible three‑month grace periods in Gangnam/Yongsan and six‑month periods in newly designated zones [7].

Feb 16, 2026 – Lee calls for scrapping tax and regulatory perks for multiple‑home owners, urging them to sell before the May deadline and arguing that “buying several homes for investment can shrink housing supply, raise prices and rents” [6].

Feb 20, 2026 – Lee orders a cabinet review of loan‑extension rules, stating “extensions or refinancing of loans after they mature is not fundamentally different from new loans” and proposing phased implementation to avoid market shock [5].

Feb 22, 2026 – The Financial Services Commission plans to limit loan extensions for multiple‑home owners in greater Seoul, schedules a meeting with the five largest banks, and cites the May 9 tax‑exemption end as a trigger for tighter loan controls [4].

Feb 24, 2026 – Lee warns multiple‑home owners that the housing market must “normalize,” directs the cabinet to examine loan‑policy rules, and reminds owners that the heavy tax break ends in May, urging them to act now [3].

Feb 24, 2026 – The cabinet approves a revision to the Income Tax Act enforcement decree, reinstating a maximum 75 % capital‑gains tax on multiple‑home sales in speculative areas effective May 9, sets four‑ to six‑month grace periods for tenant‑occupied units, and schedules promulgation of the revision on Feb 27 [1].