Prime Minister nominee Han Seong-sook sold the Asia Athlete's Village Apartment (exclusive area 151 square meters) in Jamsil-dong, Songpa District, Seoul, which Han had owned for 20 years, for 5.2 billion won last month, netting an estimated profit of about 2.95 billion won, it was confirmed on the 8th.
According to the Prime Minister's Office confirmation hearing preparation team, Han purchased the apartment in Oct. 2006 for 2.25 billion won. The latest sale price is at the lowest level among transactions of the same size during the same period. Considering that a unit of the same size changed hands for 5.6 billion won on the same day, it was disposed of 400 million won cheaper.
The sales contract was signed on the 6th of last month, three days before the end of the grace period suspending the heavier capital gains tax on owners of multiple homes. The ownership transfer registration was completed on the 27th of the same month. As a result, Han became eligible for the standard tax rate and the special long-term holding deduction, instead of the higher rate for multiple-home owners. The contract date was about a month before Han was nominated as prime minister, and the registration date was 10 days before the nomination.
The apartment in question was known to be the residence of Han's mother. During the confirmation hearing for the Minister of the Ministry of SMEs and Startups, controversy arose over a "de facto gift" after it emerged that Han had allowed the mother to live in the apartment rent-free.
In the government Public Official Ethics Committee asset disclosure in Mar. this year, Han reported total assets of a little over 22.3 billion won, and was found to own, in addition to the Jamsil apartment, an officetel in Yeoksam-dong, a detached house in Samcheong-dong, and a detached house in Yangpyeong.