野 "Kim Gi-hyeon KTX Land Soared Over 1000 Times"...Truth Investigation Task Force Launched

Suspicion of Hundreds of Billions in Capital Gains from 38 Million Won Purchase
"If It Were an Opposition Party Lawmaker, There Would Have Been Hundreds of Investigations Including Raids"

[Asia Economy Reporters Oh Ju-yeon and Park Jun-i] The Democratic Party of Korea announced on the 22nd that it will form a fact-finding task force (TF) regarding the allegations of land speculation near the KTX Ulsan Station by Kim Ki-hyun, a candidate for the People Power Party's party leader.

On the same day, Park Sung-jun, spokesperson for the Democratic Party, told reporters after the morning supreme council meeting, "The most important issue in today's (closed meeting) was the many discussions about the land speculation allegations against Representative Kim Ki-hyun. Although Representative Kim has provided explanations, they need to be clarified precisely," adding, "We plan to form a fact-finding task force within today."

The exact name has not yet been decided, but the tentative name is "Fact-Finding Task Force on Representative Kim Ki-hyun's Land Speculation Allegations TF."

Spokesperson Park said, "There is a story that Representative Kim purchased 35,000 pyeong of land in 1998 for 38 million won. The current market value seems to be several tens of billions of won," and pointed out, "It is said that the price difference is over 1,000 times, and there are suspicions that there was external pressure regarding the KTX route change at that time, but the explanation does not seem to be accurate."

He continued, "Since Representative Kim was also a member of the National Assembly's Land, Infrastructure and Transport Committee at the time, there was an opinion that this part should be clarified," and explained, "There was an interview with a related person saying that he intended to engage in livestock farming after retirement. Considering whether the land was actually suitable for livestock farming at that time, the suspicion of speculative purchase is strong."

Spokesperson Park added, "Therefore, there was an opinion that the party should file a complaint regarding this as a case of local corruption and land speculation and conduct an immediate investigation."

He also said, "If an opposition party member had such a case (land speculation with several hundred billion won in price difference), there would have been hundreds of investigations including searches and seizures," and "We will form the task force today and quickly appoint the head and members."

Kim, who is running for the People Power Party's party leader election in the March 8 party convention, is suspected of having a barren land he purchased for 38 million won in 1998 become a KTX station area, now valued at 64 billion won at current market prices. It is alleged that the route of the road connecting Ulsan Station was changed to pass through land owned by Kim, contrary to the original plan, raising suspicions that Kim used his power. Earlier, in the ruling party's party leader candidate debate, rival candidates launched a barrage of attacks on Kim, demanding a proper explanation for the 1,800-fold profit.

Kim responded, "This is an absurd falsehood and an issue that was thoroughly investigated during the Democratic Party administration," adding, "In the national audit two years ago, Democratic Party lawmakers investigated whether there were any corruption allegations, and the result proved no charges. It would be better not to continue these groundless attacks."

Kim's side stated regarding the opposition party's fact-finding TF, "Based on last year's official land price, the land price has only increased 5.91 times over 24 years," and added, "The connecting road between Ulsan Station and the village is likely designed as a tunnel passing under the forest land in question, so there is no factor for land price increase."