Among 546 Public Officials, 27 Multi-Homeowners Sell Houses
More Local Properties Sold Than High-Value Seoul Apartments
On the 25th, officials from the National Assembly Secretariat are reviewing the 2020 regular asset change reports of 1,865 individuals subject to asset disclosure, which were made public through the official gazette at the National Assembly./Photo by Yoon Dong-joo doso7@
[Asia Economy Reporter Moon Jiwon] According to the Blue House's recommendation to 'dispose of housing,' a significant number of high-ranking multi-home public officials who sold their houses reduced their number of owned homes by selling properties in local areas such as Sejong instead of apartments in Gangnam, Seoul.
Some public officials held onto their profitable Gangnam apartments while selling apartments they had purchased for residential purposes near their workplaces in the Administrative City, gaining only the price difference.
On the 26th, according to the '2019 High-ranking Public Officials' Property Changes' disclosed by the Government Public Officials Ethics Committee through the official gazette, among 546 public officials affiliated with the Blue House, government ministries, subordinate agencies, and national universities, 27 multi-home owners sold houses last year and earlier this year.
Among them, only a few sold apartments located in Gangnam, including Minister of the Interior and Safety Jin Young and Kangwon National University President Kim Heon-yeong. Minister Jin sold a 177.3㎡ (exclusive area) apartment in Dongbu Centreville, Daechi-dong, Gangnam-gu, Seoul, for 2.78 billion KRW last year. President Kim sold a 49㎡ apartment in Gaepo-dong, Gangnam-gu, for 2.1 billion KRW. Besides apartments, Park Jin-gyu, Blue House Secretary for Trade, sold two officetels in Yeoksam-dong, Gangnam-gu, registered under his spouse's name, in December last year.
Except for these individuals, other multi-home public officials mainly sold properties in local areas such as Sejong City apartments obtained through special supply rather than Seoul apartments.
Kim Chae-gyu, Director of the Ministry of Land, Infrastructure and Transport's Transportation and Logistics Office, kept his Central I-Park apartment in Samseong-dong, Gangnam-gu, with a publicly announced price of 1.384 billion KRW, and an officetel in Sindang-dong, Jung-gu, but sold one apartment in Dajeong-dong, Sejong City, on December 31 last year. Son Myung-soo, Vice Minister of Land, Infrastructure and Transport, was a two-home owner with an apartment in Ogeum-dong, Songpa-gu, Seoul, and a pre-sale right for an apartment in Banggok-dong, Sejong City, and sold the completed Sejong apartment last month.
Oh Deok-seong, President of Chungnam National University, who owns an apartment in Prugio Summit, Seocho-gu, Seoul, and a residential-commercial complex apartment in Yuseong-gu, Daejeon, sold only the Daejeon apartment for 425 million KRW. The Seocho-gu apartment's value increased by 92 million KRW last year due to a rise in the publicly announced price.
Shin Myung-sik, President of the Korea Agency of Education, Promotion and Information Service in Food, Agriculture, Forestry and Fisheries, owns apartments in Garak-dong, Songpa-gu, Seoul, and Dodam-dong, Sejong City, but sold a detached house in Namyangju-si, Gyeonggi-do, and an officetel in Naesu-dong, Jongno-gu, last year. The Songpa-gu Ssangyong apartment's price rose by more than 36 million KRW last year.
Additionally, Kim Yang-su, Vice Minister of Oceans and Fisheries, who owns Hangaram Apartment in Ichon-dong, Yongsan-gu, Seoul, sold one apartment in Eojin-dong, Sejong City, and Yoo Myung-hee, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, who owns a reconstruction apartment in Jamwon-dong, Seocho-gu, Seoul, sold only one apartment in Giheung-gu, Yongin-si.
Meanwhile, it was found that more than one-third of National Assembly members are multi-home owners with two or more houses. Seventy-one members owned at least one house in the Gangnam 3 districts: Gangnam, Songpa, and Seocho-gu in Seoul.
The member with the most houses was Representative Lee Yong-ju (Independent). He owns 22 multi-family houses in Bangbae-dong, Seocho-gu, Seoul, under his and his spouse's names. Representative Park Deok-heum of the Future United Party owns apartments in Samseong-dong, Gangnam-gu, and Jamsil-dong, Songpa-gu, Seoul, as well as a detached house in Gapyeong-gun, Gyeonggi-do. He also owns commercial buildings in Dangsan-dong and Jamsil-dong, Seoul. His declared assets total 55.98502 billion KRW.
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