Geum Tae-seop, accused of child property suspicion, says "I paid all gift taxes... but I admit to living a benefited life"

Former lawmaker Geum Tae-seop, who left the Democratic Party of Korea, is attending as a speaker at the People Power Party's freshman lawmakers' meeting "Myeongbulheojeon" held at the National Assembly Members' Office Building on the 18th. Photo by Yonhap News

[Asia Economy Reporter Hanah Na] Former Democratic Party lawmaker Geum Tae-seop clarified the controversy over his children's property allegations by stating, "My late father-in-law gifted a house to the family at the end of 2015."

On the 20th, Geum appeared on SBS 8 News and responded to the question, "What is your position on the controversy that your two sons in their 20s have assets worth 3.2 billion won?" by saying, "We received the gift and paid all the taxes required by law."

He added, "Although it was given by my father-in-law, we always remember that we have benefited and are living in a good environment thanks to good parents," and stated, "Since we are living a life of privilege, I am determined to contribute more and live serving others."

Earlier, on the 18th, Ha Seung-soo, co-representative of the civic group 'Catch the Tax Thieves,' raised questions on social media, asking, "The two sons of former lawmaker Geum Tae-seop in their 20s jointly own a high-priced townhouse. Where did the funds come from? Did they properly pay gift tax?"

Meanwhile, Ha, who first raised the related allegations, commented on Geum's explanation, saying, "Unfortunately, he did not disclose how much gift tax was paid," and pointed out, "The key issue is how much gift tax was paid on the assets worth 1.6 billion won each inherited by Geum's eldest and second sons."

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