South Korean President Faces Backlash Over Mortgage Deal Controversy
Critics say the deal let buyers bypass borrowing caps after Lee and his wife became creditors for nearly two-thirds of the 2.9 billion won price.
7 Articles
7 Articles
South Korean President Faces Backlash Over Mortgage Deal Controversy
South Korean President Lee Jae Myung is under fire for extending credit to buyers of his Seoul apartment, despite strict mortgage limits championed by his own administration. This arrangement, perceived as contradictory to his policies, has sparked widespread criticism and debate over the nation's housing affordability crisis.
South Korea's Lee accused of skirting his own loan curbs with sale of apartment
South Korean President Lee Jae Myung is facing a backlash after documents showed he extended credit to buyers of his Seoul apartment who faced strict borrowing limits under his government's tough mortgage restrictions.
(Seoul = Yonhap News) Reporters Lee Jung-hyun and Jo Da-woon = On the 21st, People Power Party Floor Leader Jung Jeom-sik [regarding] the process of President Lee Jae-myung selling his apartment in Bundang, [regarding] the buyers as debtors...
Lee, regarding his Bundang house, transferred ownership by mortgaging it despite the remaining balance; it amounts to lending money. ○ Lee, regarding his Bundang house, transferred ownership by mortgaging it despite the remaining balance; it amounts to lending money. Loan restrictions on others' homes, but private financing provided for one's own home. ○ After the last resident passed away, the number of Dokdo residents dropped to zero. Although…
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