The sale process for an apartment in Bundang District, Seongnam, Gyeonggi, owned by President Lee Jae-myung, is in its final stage as of the 14th. A Cheong Wa Dae official said that day, "We have completed the land transaction permit procedures," adding, "The main contract is expected to be concluded within a few days." The actual contract price, however, has not been confirmed.
This apartment is a home that President Lee bought in 1998. Since 2018, it has been jointly owned with first lady Kim Hea-kyung, and in March it was put on the market for 2.9 billion won, about 10% below market price. At the time, Cheong Wa Dae said it was "an intention for President Lee, although a single-home owner for actual residence, to personally show the public his resolve to normalize the real estate market."
A tenant is currently living in President Lee's home. Because Bundang is designated as a land transaction permit zone, it reportedly took more than four months to reach the actual contract while coordinating the buyer's actual residence and the tenant's move-out timing. A Cheong Wa Dae official said, "The party who made the preliminary contract at the outset is entering into the main contract," adding, "The contract procedures will be fully completed soon."
In Bundang, designated as a speculative overheating district, to inherit membership status after a reconstruction association is formed, the seller must meet the conditions of ▲ one household, one home ▲ 10 years of ownership and 5 years of residence. Kim Hea-kyung, who shares equity, has not yet met the "10 years of ownership" period. Cheong Wa Dae explained that there is no issue because the apartment has not yet formed a reconstruction association.
Earlier that morning, during a Cabinet meeting discussing an overhaul of real estate taxation, President Lee Jae-myung turned to Prime Minister Han Seong-sook and said, "Does (the prime minister's home) top 2 billion?" and added, "I don't have a home now." During the meeting, a plan was mentioned to increase the burden for "ultra-high-priced" homes even if they are single homes for actual residence. President Lee asked the Cabinet for its view on what threshold to set for "ultra-high-priced," and in the process Han replied, "I have one home and it's over 2 billion."