Kim Tae-nyeon Proposes 'Comprehensive Real Estate Survey of 300 National Assembly Members' to the Speaker of the National Assembly

Kim Tae-nyeon, floor leader of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 9th and delivering opening remarks. Photo by Yoon Dong-joo

[Asia Economy Reporter Koo Chae-eun] Kim Tae-nyeon, Acting President of the Democratic Party of Korea, visited Park Byeong-seok, Speaker of the National Assembly, on the 11th to propose a full-scale investigation of real estate holdings by members of the National Assembly.

Kim, the Acting Party President, said during his visit to Speaker Park, "There is great public anger due to speculation allegations involving employees of Korea Land and Housing Corporation (LH). I believe it is very important to institutionalize legislative measures to prevent public officials from engaging in real estate speculation from the outset."

He explained, "For legislative policies to gain trust, the lawmakers themselves must be clean. First, I propose a full-scale investigation of real estate holdings of all 300 members of the National Assembly to determine whether there is any speculative real estate, whether any speculative real estate was acquired through abuse of power, and if such cases existed in the past, how to resolve them."

He added, "The People Power Party has also responded positively, so I believe bipartisan agreement is possible. I hope the investigation will be conducted under the leadership of the Speaker."

Speaker Park expressed agreement, saying, "It is necessary to eradicate the practice of public officials profiting from information obtained through their positions. This is especially serious in the case of real estate issues."

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