The Democratic Party on Kim Sang-jo's Resignation: "A Natural Step... No Disappointment to the Public Over Real Estate Issues"

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] Regarding the dismissal of Kim Sang-jo, Chief of Policy Office at the Blue House, the Democratic Party of Korea referred to it as a "natural measure."

On the 29th, the Democratic Party stated, "We see this as a natural measure to avoid burdening the President's strong will to eradicate real estate corruption."

The party added, "Regardless of rank or status, there should be no instances that disappoint the public concerning real estate issues," and "We hope that the new Chief of Policy Office, Lee Ho-seung, will assist the President well to ensure that fundamental reform directions and real estate supply measures are smoothly implemented."

It was reported that Kim conveyed his intention to resign to Chief Yoo Young-min after media reports about the increase in jeonse deposit surfaced late the previous night, and he also directly expressed his resignation to President Moon in the morning.

Controversy arose after it was confirmed that Kim had signed a contract raising the jeonse deposit of his own apartment in Cheongdam-dong by 14.1%, prior to the enforcement of the "Lease 3 Acts," which limit rent increases to 5%.

Kim's jeonse renewal contract was made before the Lease 3 Acts took effect, so there is no legal issue. However, since the Democratic Party and the government were discussing and promoting the legislation of the Lease 3 Acts at the time, this contract ultimately contradicted the real estate policy stance. Kim explained that as the deposit for the jeonse house he currently resides in increased, he raised the deposit to prepare the funds.

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