Ruling Party: "People Power Party's Greedy Politics to Raise Their Own Land Value"
Jang Donghyuk: "I Feel Heavy-Hearted, But There Are Reasons for Ownership"
The Democratic Party of Korea strongly criticized Jang Donghyuk, leader of the People Power Party, for owning four apartments, calling him the "Chairman of the Real Estate Hoarding Special Committee." In response, Jang argued that the properties were for actual residence or had specific purposes.
According to the Democratic Party on October 25, Moon Geumjoo, floor spokesperson, issued a written briefing the previous day titled, "Leader Jang with Four Apartments! Isn't He the Chairman of the Real Estate Hoarding Special Committee?"
Moon stated, "The People Power Party, which has turned the country into a paradise for real estate speculators, no longer deserves to even speak about people's livelihoods," adding, "The party's hypocritical and harsh political rhetoric has already crossed the line." He continued, "The People Power Party is no longer a conservative party," and described it as "nothing more than a special interest group for real estate speculators and the very embodiment of hypocrisy."
Moon mentioned the assets held by Jang and his family. He said, "Jang has swept up real estate across the country, from Guro and Yeongdeungpo in Seoul to Gyeonggi Province, South Gyeongsang Province, Daejeon, and Boryeong in South Chungcheong Province, as if coloring the map." He criticized, "He owns four apartments, as well as an officetel and a detached house, and has even rented out an apartment in Daejeon, which is not his constituency."
He added, "In Boryeong, Seosan, and Jinju in South Chungcheong and South Gyeongsang Provinces, he also owns rice paddies, fields, and forests," emphasizing, "His land assets alone far exceed 1 billion won, and the sharp rise in land prices in Seosan is already well known." He continued, "Isn't it now clear why the People Power Party has been so vocal about 'easing real estate regulations'? Their politics are not for the common people, but rather for greedily increasing the value of their own land."
Moon further stated, "The People Power Party is a party that has grown by using the suffering of ordinary people as a stepping stone for speculation," adding, "While they publicly claim to care about people's livelihoods, behind the scenes they buy houses and land, privatizing even the last hopes of ordinary citizens." He concluded, "The Democratic Party is different. We will put an end to an era where politicians make money through real estate and accumulate wealth through privilege."
In response to the Democratic Party's offensive, Jang held a press conference that day, saying, "As a politician, I feel a heavy heart knowing that there are citizens without even a single home while I own four apartments." He explained, "However, these are properties with actual demand and places where people live."
Jang said, "I currently live in a 30-pyeong apartment in Guro-dong, and I inherited an old rice paddy and house in my rural hometown where my elderly mother lives." He added, "Before becoming a member of the National Assembly, those were all the properties I had. Afterward, I purchased one apartment in my constituency and, for legislative work, bought an officetel near the National Assembly, bringing the total to four properties after becoming a lawmaker."
He continued, "After my father-in-law passed away, my mother-in-law has been living in an apartment in Jinju, South Gyeongsang Province, and I own a one-fifth share of that property through inheritance." He added, "Another apartment in Gyeonggi Province, purchased with my father-in-law's retirement funds, is rented out, and my mother-in-law lives off the rent. This property is also co-owned by heirs, with my wife holding a one-tenth share."
Jang stated, "The combined value of the four properties targeted by the Democratic Party is about 660 million won, and even if you add everything else, the total is about 850 million won." He countered, "Where did the perception that 1.5 billion won is the price of an ordinary apartment come from?"
He added, "I am willing to exchange all the houses and land I own for the single Jangmi Apartment held by Floor Leader Kim Byungki, or for President Lee Jaemyung's apartment in Bundang." He emphasized, "I will trade everything, so I urge President Lee and Floor Leader Kim to respond to my offer."
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