President Lee Approves Dismissal of Vice Minister of Land on the Afternoon of the 25th
President Lee Jaemyung approved the dismissal of Lee Sangkyung, the First Vice Minister of Land, Infrastructure and Transport, on the afternoon of October 25, following controversy over "gap investment."
The presidential office announced this to the media on the same day. President Lee's approval of the dismissal came less than a day after Vice Minister Lee offered his resignation.
Vice Minister Lee faced public criticism after making inappropriate remarks while explaining the government's October 15 real estate measures on a YouTube channel. At the time, he said that "if the market stabilizes, housing prices will fall, so people should make money and buy then," which sparked backlash.
However, it was later revealed that Vice Minister Lee had purchased an expensive apartment in Bundang-gu, Seongnam, Gyeonggi Province, in July of last year and then signed a jeonse lease contract, leading to accusations of hypocrisy. Although he explained that the purchase was for residential purposes and even issued a public apology, suspicions persisted that the transaction was essentially speculative, as he waited to sell at a higher price.
In response, Kim Namjoon, spokesperson for the presidential office, commented on the criticism of Vice Minister Lee's remarks and the government's real estate policy, stating, "We are listening to the voices of the people with caution and seriousness."
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