Lee Seung-gun, head of Viva Republica (Toss), addressed controversy that he used the housing crisis as an April Fools' Day event, saying there were parts he "failed to fully consider," and on Apr. 7 said he would return profits arising from real estate transactions to society.
Lee said on his Facebook page the same day, "I will return the profits arising from real estate transactions to society and fulfill my responsibility as a member of the community. I will put this into practice one by one."
Lee said about the controversy over the April Fools' Day event, "It was an in-house event we had continued for several years, but this year it unexpectedly became a big issue from the start," and added, "The April Fools' in-house event began out of a desire to thank my colleagues. But there were things I came to reflect on through the stories and comments many people left this year." He continued, "Housing is an extension of a long-standing concern, but compared with its weight, the April Fools' format could have been taken lightly, and there were parts I failed to fully consider," adding, "This occasion has deepened my thinking."
Earlier, on Apr. 1, April Fools' Day, Lee said on the in-house community, "I will sell the home I own in my personal name and currently live in," and said he would use the gain to support lifetime rent and loan interest for 100 employees.
At the time, Lee explained, "I had a strong sense of the absurdity that some earn huge revenue from real estate while others face survival difficulties due to housing costs," and said, "In the process of understanding that the cause lies in the fact that individuals can privately own land, a limited resource, I heard the news that my home became No. 1 in officially assessed value in the Republic of Korea, and while thinking about how to resolve this contradiction, I came to today's decision." Lee is known to live at Eterno Cheongdam in Gangnam District, Seoul.
However, that evening Lee revised his stance, saying he would draw lots to select 10 employees and support one year of rent and loan interest. At the time, some criticized conducting an April Fools' event using the housing difficulties of young people and working-class citizens as material as inappropriate.
Regarding this, Lee explained, "It started as an attempt to share gratitude toward my colleagues and thoughts I had long pondered," adding, "At least that intention was not light." He then said, "I will consider more broadly and more deeply."