‘DPK lawmaker involved in property speculation’
Ruling Democratic Party of Korea (DPK) lawmaker Rep. Sohn Hye-won is facing criticism following media reports that she allegedly shared insider information with relatives and aides regarding property investments in Mokpo, South Jeolla Province.
Local broadcaster SBS reported Tuesday that Sohn’s relatives and aides bought nine buildings in an old street in the city between May 2017 and September last year before the street was designated a cultural heritage site. It alleged Sohn was involved in these purchases by providing money and sharing information she obtained as a member of the National Assembly Culture, Sports and Tourism Committee.
She flatly denied the allegations, but the controversy is unlikely to subside as the broadcaster said it would air another story on the issue.
The main opposition Liberty Korea Party (LKP) immediately joined in the criticism of Sohn, calling on her to step down if the allegation was true.
Rep. Kim Tae-heum said, “The Assembly and judicial authorities should conduct a thorough investigation into her using information and applying pressure. If the allegation turns out to be true, Sohn should quit her job as a lawmaker.”
The Cultural Heritage Administration (CHA) designated the street as a cultural heritage site in August 2018, quadrupling the prices of buildings there, according to the SBS report.
The broadcaster cited an expert saying if a building was in the area, the owner could get government subsidies for refurbishment work, and a 50 percent tax deduction.
On Facebook and in a radio interview, Sohn claimed the purchases of the buildings were not speculative, and said she will file a lawsuit against SBS for spreading false information.
“My intention was to revitalize the old city of Mokpo by investing there with my pocket money. It is not speculation,” Sohn posted on Facebook Wednesday.
The CHA explained its registration of cultural assets was subject to committee review and an individual could not influence the process.
Meanwhile, Rep. Park Jie-won of the Party for Democracy and Peace whose precinct covers Mokpo defended Sohn, posting on Facebook, “I don’t think the real estate purchase was speculation.”
Kim Sung-hoe, an aide of Sohn at the Assembly, defended her as well in an online post that sated, “Her nephews didn’t get government subsidies as their houses were not designated as cultural assets.”
Meanwhile, the DPK said the party will investigate the issue to come to an appropriate decision on the matter.