Kim Nam-guk "No Young-min Inappropriate... Both Parties Should Immediately Call About Real Estate"

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

[Asia Economy Intern Reporter Kang Juhee] On the 7th, Kim Nam-guk, a member of the Democratic Party of Korea, raised his voice of criticism toward Noh Young-min, the Chief Presidential Secretary, who decided to sell only his apartment in Cheongju, Chungbuk, and keep his apartment in Gangnam, Seoul, saying, "He should feel sorry for the residents of his constituency."

In an interview with MBC Radio's 'Kim Jong-bae's Focus,' Rep. Kim criticized Rep. Kwak Sang-do of the United Future Party for his real estate profits, saying, "(Chief Noh's actions) are very inappropriate if viewed by the same standards."

He continued, "Many citizens criticize that high-ranking government officials and members of the National Assembly are multi-homeowners, saying they will control real estate prices, but question whether there is genuine will to do so," adding, "Therefore, it is necessary to show this clearly this time. There is no distinction between ruling and opposition parties in this."

He then pointed out, "If you can sell immediately, it is right to do so," and added, "I wonder if it is necessary to wait for the two-year period suggested by the party." Earlier, the Democratic Party had obtained a pledge from candidates in the 21st general election to dispose of multiple homes within two years after being elected.

Regarding Rep. Kwak, Rep. Kim said, "He has continuously held reconstruction apartments and seems to have made a profit of nearly 1 billion KRW in actual transactions over the past five years," and criticized, "This is inappropriate for a member of the National Assembly and a public official."

On the same day, Rep. Kim also posted on his Facebook, saying, "Let's call nearby real estate agents today, both ruling and opposition lawmakers and senior officials," emphasizing, "Restoring public trust in house price stability and 'real estate policy' is an urgent and pressing task."

He added, "There is no room to accept excuses such as being unable to sell because transactions are frozen. If you put it up for a quick sale, the market will absorb it. There are even urgent quick sales," and urged again, "Prices have risen a lot, so it wouldn't be a big loss. Isn't it that sales are difficult because they are told to sell at market prices?"

He said, "Will house prices fall just because high-ranking officials sell real estate? Of course, they won't budge, but it can send a clear signal to the market about the government's real estate policy," and emphasized, "When it comes to real estate policy, it should be dealt with so firmly that people say, 'Is this North Korea?'"