20% of Presidential Office Senior Aides Live in Yongsan... "Silent Struggles Amid the Toheoje" [Yongsan Report]

Many Own Apartments in Ichon-dong
"Convenient Commute to Presidential Office and Investment Value Considered"

Photo by Jinhyung Kang, Presidential Office, Yongsan-gu, Seoul

Among the 54 senior aides at the presidential office at the level of secretary or higher, 11, accounting for 20%, were found to own real estate in Yongsan-gu. It appears they aimed for a 'two birds with one stone' effect, as commuting to the presidential office located in Yongsan is convenient and the area holds future investment value.

According to the '2025 Regular Asset Changes of Senior Public Officials' data as of December 31 last year, released by the Government Ethics Committee, 11 out of 54 presidential aides at the secretary level or above owned apartments or other real estate in Yongsan-gu. Policy Chief Seong Tae-yoon, whose assets exceed 10 billion KRW, reported an LG Hangang Xi apartment in Ichon-dong, Yongsan-gu, and a building in Ichon-dong under the names of his spouse and mother, respectively.

Special Advisor for Foreign Affairs and Security Jang Ho-jin, with assets reaching 16 billion KRW, owns an apartment in Seobinggo-dong, Yongsan-gu, valued at approximately 2.24 billion KRW, and reported partial ownership of an LG Hangang Xi apartment in Ichon-dong. Lee Do-woon, Senior Secretary for Public Relations, holds the Gangchon Apartment and Samik Apartment in Ichon-dong, Yongsan-gu, jointly with his spouse, valued at about 3.3 billion KRW. Lee Won-mo, Secretary for Public Service Discipline, who tops the presidential office asset list with reported assets of 39.8 billion KRW, declared an apartment located in Hangang-ro 2-ga, Yongsan-gu, under his name, and Kim Dong-jo, Secretary for National Planning, also owns an apartment in Yongmun-dong, Yongsan-gu.

Shin Su-jin, Secretary for Culture and Sports, reported an apartment in Central Park, Hangang-ro 3-ga, Yongsan-gu, valued at approximately 2.278 billion KRW, and Lee Kyung-woo, Secretary for Artificial Intelligence and Digital Affairs, also owns an LG Hangang Xi apartment in Ichon-dong jointly with his spouse, valued at about 2.8 billion KRW.

A presidential office aide stated, "Due to the nature of the presidential office work, which involves early morning arrivals and frequent overtime, many aides own homes in Yongsan for convenient commuting," adding, "The bright prospects for real estate investment in Yongsan, following the Gangnam 3 districts, likely also played a role."

However, it is known that some aides are troubled by Yongsan-gu recently being designated as a land transaction permission zone following the Gangnam 3 districts (Gangnam, Seocho, Songpa). The sudden lifting and reinstatement of the land transaction permission system, with Yongsan-gu newly subjected to regulations, has caused a disappearance of purchase demand and increased market confusion. Seoul Mayor Oh Se-hoon had continuously requested the presidential office to lift the land transaction permission system since the second half of last year, but it is reported that the presidential office clearly opposed this due to concerns over the real estate market impact.

The presidential office reportedly did not receive prior reports from Mayor Oh or the Ministry of Land, Infrastructure and Transport regarding the recent lifting and designation of the land transaction permission system by Seoul city. A presidential office official commented, "From a market perspective, it is correct to move toward lifting the land transaction permission system in the long term, but given the sensitivity of real estate issues in our country, the timing must be cautious," adding, "The Seoul city decision to suddenly lift and then reimpose the system is regrettable."