Kim Byungki: "We Must Create a Market Where Homes Can Be Bought Without Debt"
People Power Party: "He Himself Engaged in Double-Standard Gap Investment"
Kim: "Diligently Saved Up"
Han: "Don't Be Mistaken"
Kim Byungki, the floor leader of the Democratic Party of Korea, is engaged in a heated exchange with Handonghun, former leader of the People Power Party, over his ownership of a Jamsil reconstruction apartment. On the 16th, Handonghun commented on his social media account, "When Kim Byungki was criticized for buying a Rose Apartment in Songpa while making it difficult for the public to purchase homes in Seoul, he protested, saying, 'Unlike others, I bought the Rose Apartment with money I diligently saved.' He then questioned, 'If the Democratic Party's real estate policy is implemented, will office workers be able to buy a Rose Apartment without loans, just by saving diligently like Kim Byungki?'”
Following the announcement of the government's October 15 measures, Kim Byungki stated on the 16th, "It is right to create a market where people can buy homes without debt. The Democratic Party will work together with the government to thoroughly prevent illegal speculative activities." He continued, "Some criticize, without any basis, that we have kicked away the housing ladder, but we are blocking speculative demand, not closing the door on genuine homebuyers," and added, "Is it right to encourage people to buy homes by taking on hundreds of millions or even billions of won in debt?"
In response, the People Power Party criticized Kim Byungki's ownership of a Jamsil apartment while residing in Dongjak, calling it a case of 'double-standard gap investment' (purchasing a home with a tenant under a jeonse lease). Assemblyman Jo Junghoon claimed on social media that the apartment in question is "a reconstruction-targeted apartment with an asking price of 4 billion won," and described it as "so-called gap investment, even taking in a jeonse tenant." Assemblyman Park Junghoon also questioned, "Kim Byungki, who has only worked as a public official, with what money did he purchase this apartment?" Handonghun further pressed, "Did Kim Byungki buy the Rose Apartment in Songpa, which is targeted for reconstruction, entirely in cash without taking out a single loan?"
Kim Byunggi, the floor leader of the Democratic Party of Korea, is speaking at the National Assembly's audit countermeasure meeting held on the 14th. Photo by Kim Hyunmin
In response, Kim Byungki posted on social media, "Do some research before criticizing," and disclosed a year-by-year breakdown of his history. He listed: ▲ Living in the Rose Apartment with his parents since October 1980 ▲ Purchasing and moving into Building 11 of the Rose Apartment in 1998 ▲ Moving to Building 8 in 2003 and residing there for 13 years ▲ Moving to a jeonse lease in Dongjak District in 2016. He emphasized, "When I first purchased (in 1998) and moved (in 2003), there was not even talk of reconstruction," and stated, "Since I actually lived there, it is far from gap investment." He also explained, "I bought (the apartment in Building 8) with the money from selling Building 11 and the money my wife diligently saved," and added, "Handonghun is always suggesting to stake his political career, so will he do it this time? Other lawmakers should also take down their posts."
Handonghun retorted, "Don't be mistaken," and added, "All the people who are angry about the current Democratic Party real estate policy are those who live diligently and save carefully." He continued, "Kim Byungki, who claims that buying a house without a loan is normal, is suggesting a bet. I will bet that 'if the Democratic Party's policy is implemented, people will not be able to buy homes in Seoul in the future,' and Kim Byungki can bet that 'even if the Democratic Party's policy is implemented, people will still be able to buy homes.'"
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