President Lee Jae Myung said it would be a mistake to assume the government will again amend the law to extend the temporary suspension of heavier capital gains taxes on owners of multiple homes, a measure set to expire on May 9.

In a social media post Sunday, Lee reiterated that the expiration date was decided last year and made clear his intention to end the policy, saying that while no government can overpower the market, neither can the market overpower the government.

The policy, introduced under the previous administration, waives the additional capital gains tax normally imposed on multi‑home owners when they sell properties.

Lee said unfair benefits stemming from abnormal practices must be eliminated, stressing that the government has ample tools to restore abnormal situations to normal.

He argued that, despite strong opposition, revisions to the Commercial Act ultimately benefited companies, the state, and society. Breaking away from a real estate‑driven economy built on unearned income, he said, will inevitably involve pain and resistance but remains necessary.

Lee acknowledged that repeated extensions of the tax break over the past four years have led taxpayers to expect another reprieve, calling it a mistake by the government, and added that he would discuss at a Cabinet meeting the possibility of exempting transactions contracted by May 9 from the heavier capital gains tax.