Democratic Party "Candidate Park Hyung-jun's Campaign Headquarters Chief LCT Privilege Allegation"

[Image source=Yonhap News]

[Asia Economy Reporter Park Cheol-eung] The Democratic Party of Korea raised suspicions that Park Hyung-jun, the campaign headquarters chief for the People Power Party’s Busan mayoral candidate, was involved in preferential sales related to the Haeundae LCT (LCT) project.

Jang Kyung-tae, a member of the Democratic Party and secretary of the Special Committee on Local Corruption Investigations in Busan’s political, administrative, and police sectors, stated at a press conference on the 14th, "The special committee secured a list of preferential sales for Haeundae LCT in early March," adding, "This is highly credible data that records the names of those who requested preferential sales, their companies and titles, mobile phone numbers, desired floors and unit numbers, and their acquaintanceship relations."

The special committee reportedly reviewed and compiled the entire registry of 1,443 units of Haeundae LCT and conducted a cross-check with the preferential sales list. Jang said, "As a result of comparing all units, we confirmed more than 12 units owned under the names of influential figures such as the chief judge of the Busan District Court, broadcasting company executives, and former presidents of the Gyeongnam Chamber of Commerce and Industry, or their affiliated companies," adding, "Considering individuals presumed to be family members or those with the same name and similar age, the number reaches about 30 units."

He continued, "In particular, Mr. Cho, a former director of KBS Busan Headquarters who was recruited as the campaign headquarters chief for People Power Party candidate Park Hyung-jun on January 6, 2015, is understood to have purchased a unit on the 83rd floor of Building A on October 28, 2015," stating, "The company, title, and contact information on the preferential sales list all match those of Mr. Cho, and since the Haeundae LCT subscription contracts were made from October 28 to the morning of October 31, 2015, suspicions of preferential sales involving Mr. Cho are even stronger."

Jang asserted, "The apartment purchased by Mr. Cho is currently trading at around 3.5 billion KRW, which is estimated to yield a market price gain of 1.5 to 2 billion KRW compared to the sale price. This is a clear case of preferential treatment and speculation."

He added, "The special committee has received reports of about ten different corruption and misconduct allegations involving candidate Park Hyung-jun and his family. Many of these have been verified as true. The committee plans to disclose these allegations sequentially going forward."

Jang concluded, "Candidate Park Hyung-jun should apologize to the citizens of Busan for the numerous corruption and misconduct allegations and the involvement of his close associates in the preferential sales of Haeundae LCT," urging, "Candidate Park, who is a comprehensive symbol of corruption, should not leave any further disgrace and immediately withdraw from the Busan mayoral race."

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