Kim Nam-guk "Why Does a Daegu Lawmaker Own a House in Jamsil?" A Sharp Rebuke to Kwak Sang-do

"Stop the Political Attacks That Annoy the People"

Kim Nam-guk, Democratic Party of Korea member/Photo by Yonhap News

[Asia Economy Intern Reporter Kang Juhee] Kim Namguk, a member of the Democratic Party of Korea, sharply criticized Kwak Sangdo, a member of the United Future Party, who pointed out the real estate price gains of President Moon Jae-in's son, saying, "Stop the 'political offensive' that annoys the public."

On the 6th, Kim posted on his Facebook, "If I were a member of the National Assembly, instead of making a political offensive over the price gains of the president's son's officetel, I would be concerned about 'South Korea's real estate policy' while watching the prices of the reconstruction apartments you own rise sharply," he said.

He continued, "(Mr. Kwak) has owned reconstruction apartments throughout the 20th National Assembly and gained how much price difference?" and "According to the Ministry of Land, Infrastructure and Transport's actual transaction prices and real estate transaction information, prices have risen by at least 600 million to 700 million KRW in the past five years, which is abnormal. In short, it's crazy," he pointed out.

Kim said, "Since everyone has their own circumstances, I will not be curious why a National Assembly member from Daegu owns a reconstruction apartment in Sincheon-dong, Songpa-gu, Seoul," but added, "However, since you are a member of the National Assembly, stop making baseless, one-time allegations and let's think about policies together. The public finds it a waste of taxpayers' money and annoying when members of the National Assembly only make such one-time, unsubstantiated allegations."

Earlier, on the 5th, Kwak claimed about the government's real estate policy, "The vicious cycle continues due to wrong real estate philosophy and policies," and "Moon Joon-yong, the son of President Moon, is one of the beneficiaries of the current government's real estate price increases."

Kwak pointed out, "Moon bought a residential-commercial complex apartment in Guro-gu, Seoul, for 310 million KRW in 2014 and sold it for 540 million KRW this January, making a price gain of 230 million KRW," and "The son of the sitting president bought real estate with a loan from a bank during the Park Geun-hye administration, but now it has become difficult to buy an apartment with a loan."