Hong Joon-pyo "Leftists are shameless... Treated as rich because the price of the Songpa house bought during the first term increased"

[Asia Economy Reporter Lee Ji-eun] Former Liberty Korea Party leader Hong Joon-pyo responded to criticism against him by saying, "Are people criticizing me just because the price of my Songpa house has gone up over time? The leftists are shameless."

On the 8th, Hong said on Facebook, "It is truly absurd to see people desperately trying to portray me as a real estate tycoon just because the price of the apartment I bought with a bank loan in the Songpa district during my first term has increased."

He added, "When I submitted a bill to significantly ease redevelopment and reconstruction regulations as my first legislative proposal to 'create a better society,' they seemed to be waiting with a grudge and, three days later, released a clumsy policy to strengthen real estate regulations instead. It is quite a spectacle to see Blue House officials and Democratic Party real estate tycoons announce plans to dispose of their properties, provoking public anger with real estate policies that remove the ladder of hope for ordinary people."

Hong stated, "Other than the one apartment I bought 35 years ago during my first term, I have no other significant assets?no buildings, no forest land, no land, and not a single share of stock. I bought that house 23 years ago with a bank loan to live in my constituency and have lived there since. Can people really criticize me just because the value of that house has increased over time?"