SEOUL, July 14 (AJP) - An apartment owned by President Lee Jae Myung in the outskirts of Seoul, has reportedly been sold, several months after he put it up for sale last spring.
According to a Cheong Wa Dae official on Tuesday, the real estate deal is expected to be finalized soon, with all legal procedures already completed.
Lee put his 164-square-meter apartment in Bundang, Gyeonggi Province, up for sale in February as part of efforts to push ahead with his real estate policies, saying he wanted to "fulfill his responsibilities" as the top official and avoid unnecessary political controversy over the property.
During a Cabinet meeting the previous day, where officials discussed real estate policies including taxes, Lee referred to the sale, saying, "I don't have a home now."
The apartment, which Lee and his wife purchased in 1998, had been their home for 28 years.
When listing the apartment for sale, he recalled it was the first and last home he had ever purchased and a place where he raised his children and spent his younger years, but added that he decided to sell it to meet the responsibilities expected of a public official.
At the time, presidential spokesperson Kang Yu-jung also said, "Although he owned only one home for residential purposes, Lee decided to put it up for sale to demonstrate his commitment to normalizing the real estate market," adding that "it was listed below the market rate."
It is currently priced at around 3 billion won (US$2 million).
According to a Cheong Wa Dae official on Tuesday, the real estate deal is expected to be finalized soon, with all legal procedures already completed.
Lee put his 164-square-meter apartment in Bundang, Gyeonggi Province, up for sale in February as part of efforts to push ahead with his real estate policies, saying he wanted to "fulfill his responsibilities" as the top official and avoid unnecessary political controversy over the property.
During a Cabinet meeting the previous day, where officials discussed real estate policies including taxes, Lee referred to the sale, saying, "I don't have a home now."
The apartment, which Lee and his wife purchased in 1998, had been their home for 28 years.
When listing the apartment for sale, he recalled it was the first and last home he had ever purchased and a place where he raised his children and spent his younger years, but added that he decided to sell it to meet the responsibilities expected of a public official.
At the time, presidential spokesperson Kang Yu-jung also said, "Although he owned only one home for residential purposes, Lee decided to put it up for sale to demonstrate his commitment to normalizing the real estate market," adding that "it was listed below the market rate."
It is currently priced at around 3 billion won (US$2 million).
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