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Han Dong-hoon: 'Lee Jae-myung Engaged in Leveraged Apartment Deal... Order Immediate Tax Probe'
🇰🇷 South Korea /Culture & Society

Han Dong-hoon: 'Lee Jae-myung Engaged in Leveraged Apartment Deal... Order Immediate Tax Probe'

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • Independent lawmaker Han Dong-hoon urged the National Tax Service to investigate President Lee Jae-myung over a leveraged transaction related to his apartment sale.
  • Han accused Lee of setting up a mortgage for himself while selling his own apartment, a practice the current administration has warned against.
  • The article highlights that President Lee and his wife sold their apartment for 2.9 billion won, while simultaneously establishing a 1.77 billion won mortgage, a move criticized by the opposition People Power Party.

Independent lawmaker Han Dong-hoon has called for an immediate tax investigation into President Lee Jae-myung, citing a leveraged transaction involving the sale of his apartment in Bundang. Han alleges that Lee, as the seller, set up a mortgage in his own name for the property sale, a practice he argues is hypocritical given the current administration's stance against such financial maneuvers.

The National Tax Service should immediately investigate seller Lee Jae-myung.

— Han Dong-hoonIndependent lawmaker Han Dong-hoon's call for a tax investigation into President Lee Jae-myung over a real estate transaction.

"Didn't the Lee Jae-myung administration warn the public against leveraged transactions, threatening tax investigations?" Han questioned on Facebook. He demanded that the National Tax Service "immediately investigate seller Lee Jae-myung" in accordance with the administration's own policies. This accusation comes as President Lee and his wife, Kim Hye-kyung, sold their jointly owned apartment in Seongnam, Gyeonggi Province, for 2.9 billion won.

Didn't the Lee Jae-myung administration warn the public against leveraged transactions, threatening tax investigations?

— Han Dong-hoonHan Dong-hoon's statement questioning the administration's hypocrisy regarding leveraged transactions.

Adding to the controversy, the couple simultaneously established a 1.77 billion won mortgage on the property. This move is interpreted as a way to facilitate the transfer of ownership before the final payment is due in late October. The opposition People Power Party has strongly criticized this transaction, with floor leader Jung Jin-seok stating, "The ruling party should change its name to 'The With Mortgage Party'." The situation raises questions about financial transparency and the application of regulations to public figures.

The ruling party should change its name to 'The With Mortgage Party'.

— Jung Jin-seokPeople Power Party floor leader Jung Jin-seok's criticism of the transaction.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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