Yang Hyang-ja and Kim Kyung-man too... Beopseeryeon "Requesting Prosecution Investigation on Speculation Suspicions"

"No Speculative Intent" Rebuttal

Yang Hyang-ja, Member of the Democratic Party of Korea. [Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-ju] A civic group has requested a prosecution investigation into Democratic Party Supreme Council member Yang Hyang-ja and fellow party member Kim Kyung-man, who have been embroiled in real estate speculation allegations.

The Action Alliance for Restoring the Rule of Law (Beopse-ryeon) announced on the 12th, "We have requested an investigation through the Supreme Prosecutors' Office website regarding the illegal speculation allegations involving Supreme Council member Yang and the spouse of Representative Kim."

Beopse-ryeon stated, "The 3,492㎡ forest land purchased by Supreme Council member Yang for 475.2 million KRW is a blind land within the Greenbelt, with no adjacent roads and no possibility of building structures. Unless it was for speculative purposes aiming for capital gains, there is absolutely no reason to purchase such useless land at a high price." They added, "We have requested an investigation into whether there was a nominee trust for tax evasion purposes, the source of funds, and violations of the Special Act on Public Housing during the land purchase process."

Beopse-ryeon also said, "The fact that Representative Kim's spouse purchased land near the 3rd New Town by splitting shares is clearly illegal speculation aimed at capital gains." They added, "We have requested an investigation into violations of the Real Name Real Estate Act, the Real Name Financial Transactions Act, the Special Act on Public Housing, and the Anti-Corruption Act involving Representative Kim during the land purchase process."

Regarding these allegations, Representative Yang released a statement saying, "The land was purchased when I was promoted to a Samsung executive, recommended by an acquaintance, with the intention of building a country house after retirement and preparing for old age." He refuted, "Since deciding to enter public office, I have attempted to sell the land several times, but due to the lack of transactions, the sales failed. I never aimed for any capital gains."

Representative Kim also explained in a statement, "It is unrelated to the planned new town, and I was not a member of the National Assembly at the time of purchase." He added, "I requested to sell the real estate around March last year, but the transaction has not yet been completed."

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