South Korea’s proposed 2026 housing-tax overhaul is facing opposition from first-time buyers who received an owner-occupancy grace period and apartment landlords whose eight-year mandatory rental terms are ending. The plan would reduce the Comprehensive Real Estate Tax deduction for non-owner-occupied single homeowners from 1.2 billion won ($870,000) to 900 million won ($650,000), replace the holding deduction with a residency deduction in 2028, raise rates across the top four taxable brackets and increase the deduction for resident single-homeowners to 1.4 billion won (about $1.0 million). Registered landlords say the proposal would cut their Long-Term Holding Special Deduction preference from 50% to 30% in 2028, impose a 50% capital gains tax surcharge and eliminate the preference from 2029, while abolishing the win-win rental program next year. A National Assembly petition had passed 100 signatures, with 50,000 signatures within 30 days required for referral to a standing committee. The Korea Housing Lessors Association estimates that 22,822 Seoul apartments will leave mandatory rental status in 2026 and another 14,861 in 2027-2028, raising concerns that sales or conversion to owner-occupation could reduce jeonse supply. Democratic Party leader Kim Min-seok and Deputy Prime Minister Koo Yun-cheol have called for caution and possible exemptions for unavoidable non-occupancy, but the government says the owner-occupancy principle will remain central.