Choo Mi-ae on Opposition's Impeachment Proposal: "Accused as the 'Victim'... Focusing on Fairness and Justice"

Daily Debates Over Real Estate Measures
Proposal for 'Geumbun Separation' Policy Also Suggested

Choo Mi-ae, Minister of Justice / Photo by Yonhap News

[Asia Economy Reporter Lim Juhyung] Minister of Justice Choo Mi-ae stated that she will "focus solely on fairness and justice as always" in response to the Future United Party and the People's Party filing an impeachment motion against her.

On the afternoon of the 21st, Minister Choo wrote on her Facebook, "The impeachment motion was filed today, pointing to me as the protagonist of 'persecution,'" expressing her stance.

Earlier, on the 20th, Kim Sung-won, the Future United Party's floor deputy leader, and Kwon Eun-hee, the People's Party floor leader, submitted an impeachment motion to the National Assembly signed by 110 members from both parties and independents.

The Speaker of the National Assembly must report the filed impeachment motion at the first plenary session after its submission and hold a secret ballot vote between 24 and 72 hours thereafter.

Accordingly, Minister Choo's impeachment motion is expected to be reported at today's plenary session and voted on during the plenary session scheduled for the 24th, which includes government questioning.

Meanwhile, Minister Choo also shared her thoughts on real estate measures on the same day.

She said, "The construction capitalists have created an economic system that mortgages the lives of ordinary people," adding, "Ordinary citizens are frustrated by skyrocketing apartment prices and tighten their belts to repay loans, working fiercely."

She continued, "I am well aware of real estate success stories where people bid on auctioned properties with billions, then use those properties as collateral to get loans from savings banks to pay the balance, and finally sell them as apartment development sites for tens of billions in capital gains," pointing out, "Those who envy this and those who have participated or want to participate in this group do not want apartment prices to fall."

Minister Choo had also strongly criticized the domestic real estate market the previous day, calling it a "gambling table." Citing media reports that a private equity fund purchased an entire apartment building in Gangnam, Seoul, she said, "A romance between finance and real estate has occurred right in the heart of Gangnam," explaining, "They avoid multi-homeowner regulations and aim not only for rental income but also for capital gains, which can be shared among fund subscribers."

She added, "My 'financial-real estate separation proposal' is criticized as 'deutbojab' (a slang term meaning 'something unheard of and unseen'), but overnight, the unheard-of has become reality," criticizing the situation.

Minister Choo reiterated the necessity of financial-real estate separation, warning, "If the bizarre phenomenon of linking bank loans to real estate is left unchecked, there is a lurking risk of a financial crisis the moment asset values plummet."

This content was produced with the assistance of AI translation services.