Yoo Kyung-jun "Candidate for Commissioner of National Tax Service suspected of purchasing Gangnam house under sister-in-law's name"... National Tax Service "Groundless"
[Asia Economy Reporter Lee Ji-eun] Kim Dae-ji, the nominee for Commissioner of the National Tax Service, has been accused of secretly purchasing an apartment in Gangnam, Seoul, under his sister-in-law's name and making a profit of several hundred million won from the price difference. In response, the National Tax Service explained that it was not a secret purchase but the sister-in-law's own money.
According to Yoo Kyung-jun, a member of the National Assembly's Planning and Finance Committee from the United Future Party, Kim initially moved in January 2011 by renting a jeonse (long-term deposit lease) in an apartment in Yeoksam-dong, Gangnam-gu, which his sister-in-law had purchased at the end of 2010.
Rep. Yoo suspected a secret purchase based on the fact that the sister-in-law, who was 34 years old at the time, bought a high-priced apartment for 505 million won, and that Kim, a 4th-grade senior secretary with 18 years of public service, rented the apartment owned by his sister-in-law. The suspicion was that Kim owned the house by supporting the purchase funds and later sold the property to gain a price difference. Kim's sister-in-law sold the apartment last May for 978 million won.
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However, the National Tax Service denied the allegations as "groundless," stating that the sister-in-law invested 300 million won, including her own savings and a loan of 150 million won, and purchased the Yeoksam-dong apartment in Gangnam-gu through a gap investment method involving a jeonse lease.
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