South Korea’s government is pursuing residence-centered housing taxation by increasing pressure on single-homeowners who do not live in their properties, but Lee Hyung-il, nominee for deputy prime minister and minister of economy and finance, said non-residence alone should not establish speculation for homes awaiting redevelopment or rebuilding. Lee made the comment in written answers submitted to the National Assembly ahead of his confirmation hearing, as the government restored the basic deduction for non-resident single-homeowners to 1.2 billion won from the initially proposed 900 million won. His remarks have fueled expectations that lawmakers could broaden exemptions for unavoidable non-occupancy, while maintaining differentiated treatment between owner-occupied and non-occupied homes. Lee bought a Gwacheon, Gyeonggi Province, apartment for 420 million won in 2009 and held it for more than 17 years, but lived there for only four months; the property is undergoing demolition and is reportedly worth more than 2 billion won. Under the revised proposal, a non-resident single-homeowner with an apartment assessed at 3 billion won would pay 12.038 million won in Comprehensive Real Estate Tax next year, 4.291 million won more than under current rules and below the 15.365 million won projected under the original plan. Other options under discussion include delaying the planned reduction of holding-based capital-gains deductions through 2029 and providing relief for some registered rental operators. Raising the deduction to 1.4 billion won, the level for owner-occupiers, remains unlikely, officials say.