[2025 Audit] Kim Yoonduk Says "Will Review" Calls for Senior Officials to Sell Homes and Adopt Real Estate Blind Trust System

Kim Yoonduk, Minister of Land, Infrastructure and Transport, stated on the 29th during a parliamentary audit that he would "review" both the proposal to recommend that the President and his aides dispose of their real estate holdings and the request for the government to introduce legislation for a real estate blind trust system.

Minister Kim made this remark in response to a question from Kim Jungjae, a member of the People Power Party, during the comprehensive audit by the Land, Infrastructure and Transport Committee. Assemblywoman Kim asked, "Can you immediately recommend to the President and his aides that they sell their homes?"

Assemblywoman Kim mentioned Kim Yongbeom, Chief Policy Officer at the Presidential Office; Lee Sangkyung, former First Vice Minister of Land, Infrastructure and Transport; Lee Chanjin, Governor of the Financial Supervisory Service; and Lee Hanju, former head of the Democratic Research Institute of the Democratic Party of Korea. She said, "Since they claimed housing prices would fall, they should sell now while prices are high and buy again once prices stabilize. They must take the lead by setting an example." She also added, "President Lee Jaemyung must also keep his promise to sell his residence in Bundang."

Kim Yoonduk, Minister of Land, Infrastructure and Transport. Photo by Yonhap News

Minister Kim was also asked by Kim Heejung, another member of the People Power Party, whether he would consider introducing the 'real estate blind trust system' previously proposed by President Lee Jaemyung as a government bill. He responded, "I view the President's past remarks positively," and added, "I will review it." The real estate blind trust system is a policy that requires public officials to entrust their real estate assets to a third-party trust institution, prohibiting them from managing or disposing of these assets during their term in office.

Assemblywoman Kim also raised the issue of restricting personnel appointments for public officials owning multiple homes. She noted, "When President Lee was Governor of Gyeonggi Province, he restricted the promotion of public officials with multiple homes and actually implemented this policy," adding, "This should be applied first to central government officials, even more so than to local officials."

In response, Minister Kim said, "Regarding whether to reflect this in policy, I will gather various opinions and review them before providing my stance."

This content was produced with the assistance of AI translation services.