Allegations of Borrowed-Name Assets and Loans Escalate... Oh Gwangsu, Senior Secretary for Civil Affairs, Offers Resignation

Resignation Offered Just Four Days After Appointment Amid Growing Controversy
Likely Decided to Step Down to Avoid Burdening the New Administration as Allegations Spread

Oh Gwangsu, the Senior Presidential Secretary for Civil Affairs, who has been facing allegations of managing real estate assets under borrowed names and receiving loans under borrowed names, is reported to have offered his resignation. This comes just four days after his appointment on June 8.

According to the presidential office on June 13, Oh is said to have expressed his intention to step down to President Lee Jaemyung the previous day.

Oh, a former prosecutor known for his work in special investigations, was a classmate of President Lee at the Judicial Research and Training Institute (18th class). Previously, Chief Presidential Secretary Kang Hunsik announced Oh's appointment, stating, "He is someone who deeply understands the President's philosophy on prosecutorial reform and will support the President's commitment to this cause."

There are two main allegations surrounding Oh. First, between 2012 and 2015, while serving as a chief prosecutor, he allegedly managed real estate assets?including land and buildings owned by his wife?under the names of acquaintances, effectively holding them under borrowed names. These assets were also omitted from his official asset disclosures as a public official. Second, in 2007, while serving as head of the Special Investigation Division 2 at the Seoul Central District Prosecutors' Office, he is alleged to have received a borrowed-name loan of 1.5 billion won from a savings bank under a friend's name.

After these allegations surfaced, Oh expressed that he felt "apologetic and ashamed" regarding the real estate issue, but did not initially offer to resign. The presidential office also commented, "We believe there were some inappropriate actions," but drew a line regarding his position, adding, "He has adequately expressed his regret over the matter."

However, as the controversy continued to grow, Oh appears to have decided to resign out of concern that the issue could become a burden for the new administration. President Lee has not yet announced whether he will accept the resignation. If he does, it would mark the first case of a senior official stepping down since the launch of the new administration.