Beopseoryeon Files Complaint Against Seo Young-seok and Requests Investigation of Kim Joo-young by Prosecutors: "Speculation Allegations Must Be Revealed"

Seo Young-seok, Democratic Party of Korea member [Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] A civic group has filed complaints and requested investigations by the prosecution against Seo Young-seok, a member of the Democratic Party of Korea (DPK) involved in real estate speculation allegations, and Kim Ju-young, a fellow party member, regarding their families.

The Action Alliance for Establishing the Rule of Law (Beopse-ryeon) announced on the 14th via the Supreme Prosecutors' Office website that it had filed complaints and requested investigations into the illegal speculation allegations involving Representative Seo and the father of Representative Kim.

Beopse-ryeon stated, "Representative Seo was serving as a member of the Gyeonggi Provincial Assembly, where he could have had access to development information," adding, "Considering that the land and buildings he purchased are located near the 3rd New Town development area where price gains were possible, and that three months after the purchase, the metropolitan railway plan included the land and buildings he acquired, it can only be concluded that he illegally obtained development information and engaged in speculation."

Regarding Representative Kim, they said, "Kim's father purchased land in Namyang-ri, Namyang New Town, Hwaseong City, Gyeonggi Province, but dozens of people jointly own the same parcel, and the land was acquired through so-called 'share splitting' by a real estate auction company that bought it at a court auction," adding, "Since Kim said he would quickly dispose of the land his father bought for his older brother, it is possible that the land is effectively owned by Representative Kim."

According to the National Assembly Public Officials Ethics Committee's disclosure of lawmakers' assets, Representative Seo purchased 438.5㎡ of land and 175.5㎡ of neighborhood living facilities in Gohang-dong, Bucheon City, Gyeonggi Province, in August 2015. This area is adjacent to the Bucheon Daejang district, included in the 3rd New Town development plan in 2019, and Seo was a member of the Gyeonggi Provincial Assembly at the time of the real estate transaction.

Additionally, it was confirmed that Kim's father purchased 495㎡ of forest land adjacent to Namyang New Town in September 2019. This land was part of a total 11,729㎡ forest area acquired through auction and split among dozens of buyers.

In response, Representative Seo, who has a background as a pharmacist, explained that the building housing his pharmacy was redeveloped and cleared, resulting in surplus funds, and that he engaged in real estate transactions upon the recommendation of a real estate agent acquaintance.

Representative Kim issued a statement saying, "Considering the location, transaction circumstances, and amount, it appears that my elderly father was misled by a friend of my eldest brother and conducted the transaction through a speculative real estate company," adding, "Having lost my eldest brother to an unfortunate accident and with my second brother disabled and unable to support himself, it seems my father did not want to burden the remaining siblings, my sister and me."

He also stated, "We became aware of these facts during last year's public official asset registration and requested the sale of the land, but no buyer has come forward yet, so it has not been disposed of," promising, "We will dispose of it as soon as possible."

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