It was revealed that Kim Yong, a former spokesman for Gyeonggi Province, who is in charge of the general vice-general of the presidential campaign for Gyeonggi Governor Lee Jae-myung, purchased a pilot apartment in Yeouido, Seoul, in 2017 through a ‘gap investment’ method. The apartment, which Deputy General Manager Kim bought at the time of about 1.4 billion won, has more than doubled in four years and is now being traded at about 3 billion won (based on the actual transaction price).
The governor has expressed a critical stance on Gap investment in the past, saying, “If it is for investment, it is not worth protecting.” After Lee Han-joo, former head of the Gyeonggi Research Institute, who was the head of the camp’s policy headquarters, resigned due to suspicions of multi-housing speculation and expedient donations, the real estate issue of key staff members has resurfaced, causing controversy.
According to the Gyeonggi Provincial Report and the registered copy from 2015 to 2018, Deputy General Manager Kim, who was a member of the Seongnam City Council, purchased a pilot apartment in Yeouido in September 2017 for 1.45 billion won in the joint name of the couple. It was the largest in the complex (156.00㎡). At the time, the transaction was made in the form of a 650 million won jeonse, not a real residence purpose, but a gap investment. According to the real transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, this apartment is currently being traded for between 2.9 billion and 3 billion won.
This is not the first time Kim has made a gap investment. Earlier, in 2015, she reported that she purchased an apartment in Mok-dong, Yangcheon-gu, Seoul for 790 million won in the name of her spouse in 2015, and gave the lease for 370 million won. Although the governor has shown a critical attitude toward Gap Investment in media interviews, it is pointed out that some of his advisors are showing the opposite behavior. Deputy general manager Kim explained, “The living area of my wife’s family is in the area (Yeouido) and there is only one house.
Reporter Kang Seung-hyun byhuman@donga.com Go to reporter page>
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