Park Hyung-jun: "Being Criticized for Buying an Expensive House Is Not Normal Democracy"

Park Hyung-jun Reveals Family Matters, Refutes LCT Allegations
"Sorry for Not Showing My Humble Side"
People Power Party Busan Branch Welcomes LCT Special Investigation

[Asia Economy Reporter Naju-seok] Park Hyung-jun, the People Power Party candidate for Busan mayor, on the 17th refuted allegations of preferential treatment in the sale of LCT condominium rights by revealing family matters including his remarried family. Regarding his residence in LCT, Park said, "I am sorry for not being able to show a more humble side."

Park Hyung-jun, preliminary candidate for Busan mayor from the People Power Party. / Photo by Yoon Dong-joo doso7@

On the same day, Park stated through social media (SNS), "Personally, living in a high-priced apartment like LCT is undoubtedly embarrassing to citizens who live modestly," and added, "I am sorry for not being able to show a more humble side."

However, Park emphasized, "There was no illegality, corruption, or preferential treatment involved in purchasing this apartment," and explained, "My wife and I have not owned a house outside of Busan for the past 30 years, and after a period of being without a home, we purchased this house last year under my wife's name." He further explained, "My wife and I have worked hard all our lives. The funds for purchasing the house were mainly prepared by my wife, who has been running a business. We bought this house thinking we would live here for the rest of our lives."

Regarding claims that he owns two houses, he clarified through family matters. Introducing the fact that he has a remarried family, he pointed out, "Saying that I own two houses is itself a smear campaign." Park explained, "As I mentioned earlier, the family currently being referred to is legally and financially completely independent from me. They are people running a sound business in Busan and purchased this house by buying the condominium rights, and all the funding can be fully accounted for without any discrepancies."

Earlier, the Democratic Party raised suspicions of preferential purchase of LCT condominium rights. In particular, they claimed that Park made tens of billions of won in profit one year after buying two LCT units. On the other hand, Park explained that besides his residence, the other house was occupied by children who have a biological father separately.

Park said, "If I am criticized just for living in an expensive house despite no legal issues or corruption, that cannot be called a normal liberal democratic system," and added, "The rise in house prices after purchase is due to the failure of this government's real estate policy, and talking as if I made a huge profit from unrealized income is just mudslinging."

Meanwhile, Park also expressed a welcoming stance toward the special investigation on LCT demanded by the Democratic Party, the Busan branch of the People Power Party. Referring to the People Power Party Busan branch's demand for an LCT special investigation in 2017, they stated, "We do not know the intention or motive, but the Democratic Party is only now, more than three years later, expressing acceptance of the LCT special investigation, and the People Power Party actively welcomes this."