Yoo Yang-yiwonyoung on Mother's Land Purchase Near 3rd New Town: "I Didn't Know... Will Dispose"

Yang Yi-won-young, a member of the Democratic Party of Korea, is questioning at the full meeting of the National Assembly's Environment and Labor Committee on the morning of August 20 last year.
[Image source=Yonhap News]

[Asia Economy Reporter Kim Soyoung] Amid ongoing public outrage over allegations of speculation involving some employees of Korea Land and Housing Corporation (LH) related to the '3rd New Town' development, it has been revealed that the mother of Yang Eui-won-young, a member of the Democratic Party of Korea, purchased land near the new town in August 2019.

On the 9th, Representative Yang posted on her Facebook a statement titled "Expression of Regret Regarding My Mother's Ownership of Forest Land Near the Planned Site of the 3rd New Town," which included an apology.

Yang stated, "According to inquiries made to the Ministry of Land, Infrastructure and Transport, the forest land in question was not included in the planned new town site," but added, "However, I feel sorry to the public who are angry about the LH incident."

She explained, "Until the recent LH incident occurred, I was unaware that my mother owned forest land nearby," and continued, "During last year's general election candidate asset disclosure, my mother, who is financially independent, refused to report her assets, so I was unaware of the land ownership. It was only after I took office last year and submitted my first public official asset report that I confirmed my mother's real estate holdings through the proper procedures."

She further stated, "At that time, I did not know that the forest land was near the 3rd New Town planned site currently under scrutiny," and added, "I only confirmed this after the LH incident occurred and several media outlets inquired."

Yang also conveyed, "My mother explained that she invested together because acquaintances around her introduced it as having investment value," and elaborated, "Since she lives alone, she seemed to think that visiting a real estate company allowed her to interact with people and receive good treatment."

She then announced, "We have decided to dispose of the forest land in question as well as other real estate owned by my mother." She apologized again, saying, "I deeply regret not taking better care of my mother due to being busy, and I sincerely apologize for causing concern."

According to the National Assembly's high-ranking public officials' asset change report, Yang's mother, Ms. Lee, purchased a 66㎡ (approximately 20 pyeong) shared ownership portion of land at San 42, Gahak-dong, Gwangmyeong-si, Gyeonggi-do (total 9,421㎡, about 2,850 pyeong) in August 2019. Gahak-dong was designated as part of the 3rd New Town along with Gwangmyeong-dong and Okgil-dong in Gwangmyeong-si on the 24th of last month.

Meanwhile, the Democratic Party announced on the 8th that it would investigate land transaction records related to the 3rd New Town involving elected officials and their families affiliated with the party in connection with the LH allegations, warning that those involved would face "permanent expulsion" and other strong measures.