Lee Hyoung-il, nominee for deputy prime minister for economy and minister of economy and finance, said exemptions for single-homeowners unable to occupy their properties should be broadened while apologizing for living in his Gwacheon apartment for only four months during 17 years of ownership. He said he bought the home in 2009 for about 420 million won without a loan, with a jeonse deposit of about 110 million won, and denied it was a gap investment. Lee said the property-tax overhaul is intended to promote owner-occupied housing, fair taxation and sustainable public finances, and is projected to raise about 3.4 trillion won over five years. He also left open support for electric-vehicle production, backed a future response fund, said fiscal policy should remain active for now, and reaffirmed efforts to maintain a $200 billion ceiling on US investment.