'I bought a house like the president and got a tax audit,' says homeowner
Translated from Korean, summarized and contextualized by DistantNews.
At a glance
- A homeowner claims they faced a tax investigation after purchasing a house using a method similar to one employed by presidential candidate Lee Jae-myung.
- The controversy surrounds Lee Jae-myung's sale of his long-held apartment, where he reportedly utilized a 'landlord's mortgage' to facilitate the transaction.
- This method is being scrutinized amid current regulations limiting mortgage loans for high-value properties.
A homeowner has come forward alleging they were subjected to a tax audit after purchasing a property using a method they describe as being similar to one used by presidential candidate Lee Jae-myung. The homeowner stated, "I bought a house in the same way as President Lee Jae-myung and was investigated by the National Tax Service."
The controversy stems from Lee Jae-myung's recent sale of his apartment in the Yangji Village Geumho 1st complex in Bundang, Gyeonggi Province, which he had owned for approximately 30 years. Reports indicate that Lee utilized a 'landlord's mortgage' (jeonse mortgage) when selling the property for 2.9 billion won (approximately $2.1 million USD).
This practice is drawing attention because current regulations restrict mortgage loans for homes valued at over 2.5 billion won (approximately $1.8 million USD) to a maximum of 200 million won (approximately $145,000 USD). The use of a landlord's mortgage by Lee Jae-myung in this context is being questioned, particularly concerning potential tax implications and adherence to financial regulations.
I bought a house in the same way as President Lee Jae-myung and was investigated by the National Tax Service.
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.