Of the 30 presidential office aides in the Lee Jae-myung administration, 20 are found to own dwellings in 12 locations in Seoul and the greater capital area designated as "land transaction permit zones" (permit zones) under the Oct. 15 housing market stabilization plan. Of these, 10—half—are "permit-zone landlords" who do not live there and lease the properties.
Ordinary citizens will be able to buy a house in a "permit zone" only on the condition of actual residence starting on the 20th. If they do not live there for two years, they cannot rent out their own home and move. They also cannot sell their home while continuing to live there as a jeonse tenant for a period. When conducting a transaction for a home, they must obtain prior approval from the local government.
According to the Republic of Korea Electronic Official Gazette, the National Assembly Gazette, and the office of People Power Party lawmaker Kim Eun-hye on the 17th, 20 out of 30 senior public officials in the presidential office own dwellings within land transaction permit zones in their own or their spouse's name.
The 30 include 27 whose assets were disclosed in the electronic gazette last month and Chief of Staff Kang Hoon-sik, Office of National Security Director Wi Sung-lac, and Spokesperson Kang Yu-jung, whose assets were disclosed in the National Assembly gazette in March. Of these, 10 were not actually residing in the relevant dwellings at the time of disclosure, and half were confirmed to own multiple dwellings. They were found to be living in other dwellings they own or on jeonse or semi-jeonse.
The 10 not actually residing are: ▲ Senior Secretary for Public Communication Lee Kyu-yeon (living on jeonse) ▲ Senior Secretary for Civil Affairs Bong Uk (residing in a property under own name) ▲ Secretary for Foreign Media Choi Seong-a (residing under joint spousal ownership) ▲ Secretary for Press Support Kim Sang-ho (residing under joint ownership) ▲ Secretary for Civil Affairs Lee Tae-hyeong (residing under joint ownership) ▲ Secretary for Public Office Discipline Jeon Chi-young (living on semi-jeonse) ▲ Former Secretary for General Affairs Kim Hyeon-ji (currently First Lady's Office chief secretary; living on jeonse) ▲ Secretary for Land, Infrastructure and Transport Lee Seong-hun (presumed to reside under spouse's name) ▲ Office of National Security Director Wi Sung-lac (living on jeonse) ▲ Office of National Security first deputy director Kim Hyun-jong (living on jeonse).
Half of these 10 senior public officials were confirmed to be owners of multiple dwellings, holding two or more households within permit zones in their own or their spouse's name.
Secretary Bong Uk owns, in his own name, a multi-family dwelling in Banpo-dong, Seocho-gu, Seoul (133.38㎡), and Oksu Heights in Oksu-dong, Seongdong-gu (32.13㎡ of 114.78㎡). Of these, Oksu Heights is being leased.
Secretary Choi Seong-a jointly owns with a spouse Geumho Samsung Raemian in Geumho-dong 1-ga, Seongdong-gu, Seoul (59.95㎡), and Deoksugung Lotte Castle in Sunhwa-dong, Jung-gu (116.54㎡). Of the two dwellings, the unit at Geumho Samsung Raemian was leased out under Choi's own name. Outside the permit zones, Choi also owns in her own name a mixed-use building in Sokcho, Gangwon Province (land 8.65㎡, building 39.13㎡), and the spouse owns a detached house in Yeongdong County, North Chungcheong Province (land 1,844.00㎡, building 113.40㎡).
Secretary Kim Sang-ho jointly owns with a spouse six multi-family dwelling units in Daechi-dong, Gangnam-gu, Seoul, and Shinwon Villat in Guui-dong, Gwangjin-gu (244.13㎡). Among these, the multi-family dwellings in Daechi-dong are being leased.
Secretary Lee Tae-hyeong jointly owns with a spouse Woosung Apartment in Jamsil-dong, Songpa-gu (160.74㎡), and the spouse owns a multi-household dwelling in Jungang-dong, Gwacheon, Gyeonggi Province (land 255.20㎡, building 395.28㎡). Among these, the multi-household dwelling in Gwacheon is being leased. Gwacheon was newly designated as a permit zone under the Oct. 15 plan.
Secretary Lee Seong-hun has, under the spouse's name, a multi-household dwelling in Daechi-dong, Gangnam-gu, Seoul (partial ownership), and Yeoksam Lucky in Dogok-dong, Gangnam-gu (partial ownership). There is also an apartment in Naseong-dong, Sejong Special Self-Governing City (112.59㎡) under joint spousal ownership. Of these, the multi-household dwelling in Daechi-dong and the apartment in Sejong were leased out, and separately there is a jeonse lease under the spouse's name for a multi-family unit in Yangjae-dong, Seocho-gu, Seoul (65.95㎡).
Director Wi Sung-lac was confirmed through the National Assembly asset disclosure in March to own Raemian Hillstate Godeok in Godeok-dong, Gangdong-gu, Seoul (97.00㎡) in his own name. At the time of reporting, it was leased, and he was living on jeonse in Hansung Apel Tower in Doseon-dong, Seongdong-gu (officetel, 20.18㎡) in his own name. Wi's spouse owns the Cheongnyangni Changbo River Rich 2 officetel in Jeonnong-dong, Dongdaemun-gu, Seoul. Based solely on the asset disclosure, it cannot be determined whether the spouse's officetel is for residential or office use, so it is not possible to conclude whether Wi is a multi-dwelling owner within the permit zones. However, among the reported assets, a total of 18 real estate properties (land, buildings, etc.) were disclosed under the names of Wi, the spouse, and their children, which drew attention at the time. Within the permit zones, five buildings (dwellings, commercial units, officetels, etc.) were reported as owned by Wi or the spouse.
Of course, it cannot be ruled out that these 10 senior public officials will complete all required actual-residence periods in their permit-zone dwellings and live as landlords thereafter. Moreover, there is no reason senior public officials should be restricted from freely buying and selling dwellings. Still, in a situation where ordinary citizens' freedom to change residence is extremely restricted, some note that senior presidential office officials cannot be free from criticism that they benefited by avoiding regulations.
On the 15th, the government finalized all 25 districts of Seoul and 12 locations in Gyeonggi Province (Gwacheon, Gwangmyeong, Bundang-gu, Sujeong-gu, and Jungwon-gu in Seongnam; Yeongtong-gu, Jangan-gu, and Paldal-gu in Suwon; Dongan-gu in Anyang; Suji-gu in Yongin; Uiwang; and Hanam) as "permit zones." The permit zones impose an actual-residence requirement as a measure to block "gap investment"—buying a house with jeonse in place. The Ministry of Land, Infrastructure and Transport explained that it is a measure to stabilize home prices while preventing the so-called "balloon effect."
Lee Chang-mu, a professor in the Department of Urban Engineering at Hanyang University, said, "Senior public officials can also freely conduct transactions for dwellings, but I regret that they fail to make reasonable policy under the notion that regulations can curb rising home prices," adding, "Gap investment is also a normal means of supplying jeonse, and portraying it as a crime is not desirable for stabilizing the market."
Meanwhile, in the past, the Moon Jae-in administration, after more than 20 rounds of real estate measures failed to contain home prices, advised senior public officials who owned multiple homes to sell their dwellings. It repeatedly asked the public to sell homes they do not live in for real estate stability and told senior public officials to practice this as well. However, until the end of the term, many senior public officials remained multiple-home owners, prompting accusations of hypocrisy.