Site Visit Preview Lee Jun-seok, "95% Discount on Land"... Kim Ki-hyun's Fierce Attack

Lee Jun-seok "I will be back"... Announces visit to Ulsan
Indirect offensive to pressure Kim Ki-hyun over 'Ulsan land suspicion'

[Asia Economy Reporter Yoon Seul-gi] As the suspicion of 'KTX Ulsan Station area real estate price speculation' involving Kim Ki-hyun, the People Power Party's presidential candidate, has emerged as a major issue in the party convention, former People Power Party leader Lee Jun-seok is focusing on attacking the speculation allegations. Lee said the timing and methodology of Kim's speculation allegations "lack plausibility," but he is pressuring Kim by saying he will visit the land in question to verify it himself.

Lee, who supports Cheon Ha-ram, another People Power Party presidential candidate, has joined the 'speculation offensive' against Kim. On the night of the 22nd, Lee posted on Facebook, "I will go directly to the Ulsan site," adding, "I will check the site and acquire the land at a 95% discount."

In a series of posts, he attached Kim's public official asset registration list published in the March 25, 2016, official gazette (10 forest land parcels and 4 buildings in Ulsan) along with the phrase, "I will go and come back."

Former People Power Party Leader Lee Jun-seok, People Power Party Leader Candidate Kim Ki-hyun. Photo by Yonhap News

This remark was a response to the clash between Kim and Hwang Kyo-ahn, another People Power Party presidential candidate, over Kim's speculation allegations during the third party leader TV debate hosted by KBS that day. Hwang, who took the lead in the debate, told Kim, "Resign for the party, the president, and the country," and said, "To resolve the allegations, explain why the road route was changed to Kim's land."

He continued, "The answer is always on the ground," saying, "First, supporters who are good at the details went for a field inspection; second, experts went for drone mapping (aerial surveying); and third, my spouse checked the site." He added, "If you visit the site, you can understand why the road was planned there, and we are receiving various reports related to this from people who worked with Kim."

In the first TV debate, immediately after the speculation allegations against Kim were raised, Lee showed support for Kim by saying, "The timing and methodology lack plausibility." However, at the same time, Lee continued to demand Kim to "sell the land at a 95% discount," echoing Kim's own statement that he wanted to "sell the land at a 95% discount." Instead of actively raising speculation allegations, Lee seems to be trying to corner Kim with an indirect offensive.

Kim Ki-hyun, a member of the People Power Party, is giving a greeting speech at the Ulsan-Jeonnam Win-Win Development Agreement Ceremony for Becoming a Global New Growth Hub held at the National Assembly on the 22nd. Photo by Yonhap News Agency

Meanwhile, the 'Ulsan price speculation suspicion' was first raised by Hwang during the first party leader debate held on the 15th. Kim has stated that he has already clarified the related allegations.

On the 23rd, Kim appeared on CBS Radio's 'Kim Hyun-jung's News Show' and said, "I bought this land in 1998 when I was a lawyer," adding, "About six years later, it was finally decided that the KTX station would be installed nearby, but how could I have known about something that would happen six years later? It's absurd."

He continued, "If it were speculation, the land price should have skyrocketed after the KTX came, but it is similar to other nearby houses," and said, "This is a story from 25 years ago, and when I calculated it, it increased about fivefold, and the official land price also increased fivefold over 25 years. It is just the average nationwide housing price increase."