The Democratic Party stated on July 22 that "President Lee Jae-myung voluntarily chose to sell his only home, incurring a loss, as he relinquished his membership in the reconstruction association at a time when the project was gaining momentum." This response came after the People Power Party launched an offensive regarding the sale of the president's home.
Kang Jun-hyun, the party's chief spokesperson, spoke to reporters after a Supreme Council meeting, saying, "Despite having no obligation to sell his home as a one-household, one-home owner, the president chose to sell his only property, which he had owned for 28 years, at a price below market value to demonstrate his commitment to stabilizing the real estate market and became a non-homeowner."
He added, "The registration of ownership transfer and the establishment of a mortgage were done to consider the buyer's acquisition of membership in the association and financial circumstances, with the president assuming the risk of recovery himself. The mortgage registration was an unavoidable procedural measure and is legally distinct from loans or private financing, as some have suggested."
Kang expressed regret, stating, "It is inappropriate to distort the fact that all procedures were transparently disclosed."
Meanwhile, Jeong Jeom-sik, the floor leader of the People Power Party, remarked during a previous floor strategy meeting that he was "impressed by the cleverness of avoiding loan regulations through such tactics" regarding the president's home sale.
President Lee and his wife, Kim Hye-kyung, reportedly sold their jointly owned apartment in Bundang-gu, Seongnam, for 2.9 billion won, while establishing a mortgage of 1.77 billion won.
In response to suspicions that the buyer may be an acquaintance of President Lee, the Blue House clarified, "Claims of a personal relationship or special connection with the buyer are unfounded."
* This article has been translated by AI.
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