[Asia Economy Reporter Park Jong-il] The Seoul Metropolitan Council Democratic Party (Representative Assemblymen Jo Sang-ho, Seodaemun 4) announced that it will thoroughly verify the leadership, expertise, and the series of allegations raised against Kim Hyun-ah (photo), the candidate for president of the Seoul Housing and Communities Corporation, at the ‘Seoul Housing and Communities Corporation President Confirmation Hearing’ scheduled for the 19th.
The Seoul Housing and Communities Corporation is a key public institution that comprehensively supports Seoul’s housing policies.
Moon Jang-gil and Song Myung-hwa, co-spokespersons of the Seoul Metropolitan Council Democratic Party, stated that the party will closely examine whether candidate Kim possesses the expertise necessary to faithfully perform the duties of the position and will also thoroughly verify the current allegations raised.
Furthermore, candidate Kim should sufficiently explain her qualifications and clearly respond to the issues raised.
One of the most concerning aspects is that candidate Kim is a multi-homeowner. Although she has criticized the unstable housing market and rising prices since her time as a member of the National Assembly, she herself owns multiple real estate properties and leasehold rights. According to Kim’s asset declaration, she owns four real estate properties together with her spouse: an apartment in Cheongdam-dong, Gangnam-gu, Seoul; a commercial building in Jamwon-dong, Seocho-gu; an apartment in Geumjeong-gu, Busan; and an officetel in Jung-gu, Busan. Additionally, she holds separate leasehold rights (tenancy rights) on buildings located in Tanhyeon-dong and Juyop-dong, Seo-gu, Ilsan, as well as a villa leasehold right in Jamwon-dong, Seocho-gu, registered under her mother’s name.
As the head of an institution responsible for the stable housing and rental housing supply for Seoul citizens, these facts could be a significant flaw and represent a contradiction to her words and actions, amounting to a ‘double standard’ behavior.
Meanwhile, candidate Kim has criticized various real estate policies of the current government, including the three major lease laws. In particular, she actively opposed the 3rd New Town development plan focused on housing supply in the metropolitan area last year. This perspective raises many doubts about how she will achieve stable housing supply and residential welfare in Seoul.
There are also concerning aspects in the candidate’s career. One of Kim’s representative career experiences is her 20-year tenure as a research fellow at the Korea Institute of Construction Industry. The Korea Institute of Construction Industry is an institution established by construction companies and is the largest specialized research institute in the private construction sector, claiming to passionately conduct research desired by the market.
The construction company-oriented mindset and human relationships developed during her long tenure at a private research institute could cause conflicts of interest with Seoul’s housing administration. If so, this would be a serious flaw. The candidate’s position and attitude on this matter will also be closely examined.
The ball is now in the council’s court. As this is the first appointment of a head of a subordinate public institution since Mayor Oh Se-hoon took office, the Seoul Metropolitan Council Democratic Party will rigorously question and strictly verify the candidate’s qualifications, abilities, and morality at this hearing to determine the candidate’s suitability.
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