Naso-yeol Claims "Jang Dong-hyuk Suspected of Real Estate Speculation Near Daesan Port"

"Jang and His Spouse Purchased Forest Land and Warehouse Site in Seosan
With No Personal Ties to the Area"

The Democratic Party candidate Naso-yeol's camp raised allegations of real estate speculation against candidate Jang Dong-hyuk. Photo by Asia Economy DB

On April 8, the camp of Naso-yeol, the Democratic Party candidate running in the Boryeong and Seocheon districts of South Chungcheong Province for the 22nd general election, once again raised allegations of real estate speculation against Jang Dong-hyuk, the People Power Party candidate.

In a press release issued that day, Naso-yeol's camp stated, "In 2019, candidate Jang purchased a 588-square-meter plot of forest land in Seosan, South Chungcheong Province, for 393.8 million won. In addition, he effectively owns, under his spouse's name, a 701-square-meter warehouse site for which he paid 619 million won."

They further claimed, "Although the real estate owned by candidate Jang and his spouse is classified as forest land, Daesan Port is located nearby, and there is an ongoing ownership dispute over the warehouse site."

Previously, on April 4, Naso-yeol's camp had raised suspicions of real estate speculation regarding candidate Jang and his spouse's ownership of various properties in multiple locations. They also filed a complaint with the Boryeong City Election Commission, accusing Jang of underreporting some of his assets to the election authorities.

Naso-yeol's camp pointed out, "It is problematic for a public official, whose basic duty is integrity, to purchase real estate worth around 1 billion won. For politicians, it is fundamental to manage their assets transparently in advance so that no voter has any reason for suspicion. Continuing to hold properties in areas with no personal ties, regardless of the reason, creates significant room for misunderstanding."

They added, "Candidate Jang dismisses the issue of owning six houses as a smear campaign, but he still seems unaware of why so many media outlets are raising concerns about this matter. Even now, stepping down from the candidacy would be the right thing to do for the people."