Seoul District Mayor a Real Estate Tycoon?...Yoo Deok-yeol, Dongdaemun District Mayor, Explains Ownership of Two Houses

One house is located in Goam-dong, Jecheon-si, purchased in 2001 for 50 million KRW. The house is currently rented out as the spouse, Jeong Seunggyo, works as a nursing professor at Semyung University. Due to difficulties such as moving, it was purchased and is currently occupied... The Cheongsol Woosung Apartment in Dongdaemun-gu was purchased on October 2014 for 429 million KRW for family residence, with a Ministry of Land, Infrastructure and Transport actual transaction price of 600 million KRW as of the end of 2019.

[Asia Economy Reporter Park Jong-il] On the 19th, Yoo Deok-yeol, Mayor of Dongdaemun District Office, clarified that the content announced by the Citizens' Coalition for Economic Justice (CCEJ) the previous day, stating "District mayors are real estate tycoons," is highly misleading.

Mayor Yoo stated, "I own two apartments."

He explained that one of the apartments is a house located in Goam-dong, Jecheon City, which he purchased in 2001 for 50 million KRW. This house is currently rented out because his spouse, Jung Seung-kyo, is a professor in the Nursing Department at Semyung University and was living there under a lease. Due to difficulties such as moving, they decided to purchase the property.

He also mentioned that Professor Jung still actually resides there from Monday to Thursday.

The other property, Cheongsol Woosung Apartment located in Dongdaemun-gu, was purchased in October 2014 for 429 million KRW and is used as a family residence. According to the Ministry of Land, Infrastructure and Transport, the actual transaction price as of the end of 2019 was 600 million KRW.

▣ Real Estate Holdings of Yoo Deok-yeol, Mayor of Dongdaemun District

?Apartment 1: Cheongsol Woosung Apartment located in Dapsimni-dong, Dongdaemun-gu

- Owner: Joint ownership between spouses

- Area: 114.76㎡

- Purchase date: July 22, 2014

- Purchase price: 429 million KRW

- Ministry of Land actual transaction price: 600 million KRW (as of December 31, 2019)

- Purpose of purchase: Family residence

※ Lived in the same apartment under lease since its completion in 2000, purchased in 2014

?Apartment 2: Geumyong Apartment located in Jecheon City, Chungbuk

- Owner: Spouse’s name

- Area: 59.91㎡

- Purchase date: September 10, 2001

- Purchase price: 50 million KRW

- Current price: 46 million KRW (officially assessed value as of December 31, 2019)

- Purpose of purchase: Purchased for the spouse, who is a professor in the Nursing Department at Semyung University in Jecheon City, to reside during weekdays and has been living there since