Loan for Apartment Balance Using Daughter's Name
"Cannot Remain Silent as It Is Being Framed as Fraudulent Loan"
Yang Moon-seok, the Democratic Party of Korea candidate for Ansan City Gap in Gyeonggi Province, spoke out about the controversy surrounding a 'loan under his daughter's name.' He apologized, saying that taking out a 1.1 billion KRW loan under his daughter's name, who was a university student at the time, when purchasing an apartment in Jamwon-dong, Seocho-gu, Seoul, was a 'loophole,' but he denied that it was a fraudulent loan.
On the 30th, Yang Moon-seok posted on his Facebook, "While the loophole loan deserves criticism, the loophole loan case that started with the first report by Chosun Ilbo is escalating into a fraudulent loan case," and added, "Our family, knowing it was a loophole but trusting the industry's practice, and unable to immediately bear the high interest rates, turned a blind eye to the loophole. We have been deeply reflecting on the harsh media criticism over the past few days."
Democratic Party of Korea's Kim Boo-kyum, Co-Chairman of the Joint Election Committee, is talking with Yang Moon-seok, a preliminary candidate for Gyeonggi Ansan Gap, who is embroiled in a controversy over 'disparaging Roh Moo-hyun,' in the lobby of the National Assembly Members' Office Building on the morning of the 17th. [Image source=Yonhap News]
He continued, "However, I cannot remain silent about being accused of fraudulent loans," and questioned, "Has anyone been victimized by fraud due to our family's loan? Did we intentionally deceive Saemaeul Geumgo?" He further pointed out, "Did Saemaeul Geumgo ever conduct even a single verification process according to the law to confirm that the loan funds were properly used for the loan purpose? They did not." He added, "Yet, they unilaterally labeled it as a fraudulent loan and branded our family as fraudsters." He also mentioned, "A representative case of a fraudulent loan is the loan obtained through forged bankbook balances by Choi Eun-soon, the mother-in-law of President Yoon Seok-yeol."
Yang also welcomed Saemaeul Geumgo Central Association's announcement that it will begin an on-site inspection of the loan case on the 1st of next month, saying, "I gladly welcome it," and "I expect them to clearly clarify whether it is a fraudulent loan or not."
He particularly emphasized that the loan was made at the suggestion of Saemaeul Geumgo. When they had to pay the remaining balance for the apartment, a relative who had agreed to lend money had a change in circumstances, so they urgently inquired at a real estate agency, which introduced a lending company. They borrowed 630 million KRW and moved in, but troubled by the high interest rates, they were introduced again by the real estate agency to Saemaeul Geumgo in Daegu. Saemaeul Geumgo proposed a loan under his daughter's name for business funds, saying, 'It's an industry practice, so there should be no particular problem,' according to Yang's position.
Previously, Yang purchased a 137.10㎡ apartment in Jamwon-dong, Seocho-gu, Seoul, jointly with his spouse in August 2020. The purchase price of this apartment at that time was 3.12 billion KRW. It was revealed that during this process, they took out about 1.1 billion KRW in a business fund loan under their daughter's name, who was a university student at the time, from Daegu Suseong Saemaeul Geumgo to cover loans from lending companies, sparking controversy.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
