Responds to Democratic Party’s demand as President Lee Jae Myung sells Bundang apartment
The People Power Party stated on the 28th, in response to the Democratic Party of Korea’s demand for People Power Party leader Jang Dong-hyeok to sell his housing after President Lee Jae Myung put his Bundang apartment up for sale, that “one unused property was already listed for sale long ago.” Park Sung-hoon, the People Power Party’s chief spokesperson, met with reporters at the National Assembly that morning and said, “Although we are proceeding with the transaction through real estate agencies, no transaction is currently taking place.” He added, “Among the six properties owned by Representative Jang, five that are actually in use are realistically difficult to sell.”
The properties owned by Representative Jang include one apartment in Seoul’s Guro District where he resides, an apartment in Boryeong City, Chungnam Province (his constituency), one house in Boryeong where his mother resides, a 1/5 share in an apartment in Jinju, Gyeongnam Province where his mother-in-law resides, a 1/10 share in an apartment in Anyang, Gyeonggi Province inherited from his father-in-law, and an office-tel in Yeouido — totaling six properties.
Park, the chief spokesperson, continued, “The People Power Party views the real estate market not as a political tool but from the perspective of stabilizing housing for ordinary citizens and normalizing the market.” He added, “If selling housing does not contribute to market stabilization, it is merely a politically motivated event.”
Earlier that day, the Democratic Party of Korea urged Representative Jang to sell his housing. Kim Ji-ho, the Democratic Party’s spokesperson, stated, “President Lee Jae Myung is proving his commitment to normalizing real estate prices by even putting his own home up for sale,” calling it a “resolution to correct the distorted real estate market structure.”
Kim questioned, “Then what is the People Power Party doing?” He added, “Is it not repeating the logic of vested interests that aim to maintain a high-end housing market structure while fiercely opposing government policies?” Kim further asked, “Does the People Power Party only feel satisfied when housing prices rise and speculation succeeds?” He concluded, “In particular, I ask People Power Party leader Jang Dong-hyeok: When will you fulfill your promise to dispose of your own property if the president sells his house?”
