Democratic Occasion members face plenty of suspicions over property hypothesis: DONG-A ILBO

The Democratic Party of Korea, which proposed a property speculation investigation of all 300 members of the National Assembly, appears at a loss as its members have raised a number of suspicions against property speculation. The results of the investigation into speculation by the ruling party members and auxiliary staff in new Phase 3 cities by the party’s ethical investigation group are yet to be released.

According to the Democratic Party of Korea and the National Assembly on Friday, Democratic National Assembly member Seo Young-seok of Bucheon, Gyeonggi Province, bought 877 square kilometers of land and a building classified as a Type 2 neighborhood convenience facility with a friend in Bucheon in August 2015. Based on the actual transaction prices, the properties were valued at 127.35 million won and 233.59 million won, respectively. Seo was a member of Bucheon City Council at the time and the properties are now in his local constituency. Because they are two kilometers from the Daejang district of Bucheon, which is designated as one of the new Phase 3 cities, the properties did not have to report themselves to the Ethical Research Group of the Democratic Party of Korea. “I bought the property to move a pharmacy into an old building,” said Seo during a phone call with the Dong-A Ilbo. “Their prices have not risen at all and the land is not intended for speculation as it has no road connection.”

It was also reported that Democratic Party member Kim Ju-young’s father bought 496 square meters of woodland near Namyang New Town in Hwaseong, Gyeonggi Province, in 2019. This was part of a group purchase of 11,729 square feet among dozens of people believed to be a “splitting equity” system. “My father, over 90, bought the land for my disabled second oldest brother. I will discuss it with my father and deal with it as soon as possible, ”said Kim.

Yang Hyang-ja, Yangyi Won-young, Kim Kyung-man and Yoon Jae-kab’s family members have also been reported to own land in the metropolis and the nearby region, meaning a total of six ruling party members are suspected Real estate speculation.

The Democratic Party of Korea is still fairly certain when the results of its ethical research group will be released. “As the ethical research group is analyzing self-reports that were produced by Wednesday, it may take some time before the results are published,” said a member of the party. “With party members raising a number of suspicions against property speculation, it is worrying that public sentiment, already being disrupted by the problems surrounding the Korea Land and Housing Corporation, is growing uneasy.”

Dong-Jun Heo [email protected]

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