'Jeonse Deposit Controversy' Kim Sang-jo, Under Police Investigation? "Reviewing the Accusation Details"

Former Blue House Policy Chief Kim Sang-jo is giving his farewell remarks at a briefing held at the Blue House Chunuchu-gwan on the 29th.
[Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-ju] It appears that the police will formally launch an investigation into former Blue House Policy Chief Kim Sang-jo, who raised the jeonse deposit of his apartment in Cheongdam-dong, Seoul, which he owns, by 14% just two days before the enforcement of the ‘Lease Protection Act’ that limits the increase in jeonse deposits to 5%.

An official from the Government Joint Special Investigation Headquarters (Special Investigation Unit), which is investigating real estate speculation cases, stated on the 31st, "A complaint against former Chief Kim has been filed and is currently under review," adding, "The investigation will be conducted under the Seoul Metropolitan Police Agency."

The day before, the Judicial Examination Preparation Group (Sajunmo) filed a complaint with the National Police Agency’s National Investigation Headquarters against former Chief Kim and his spouse for allegedly using confidential information in violation of the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission.

In the complaint, Sajunmo argued, "The three Lease Protection Acts were pushed through with such urgency that they were enforced the day after passing the National Assembly plenary session, resembling a military operation, which likely constituted confidential information within the Blue House," and "At the time of the contract, former Chief Kim, as the Blue House Policy Chief overseeing the entire state affairs, must have been aware that the three Lease Protection Acts would be swiftly passed and enforced." With former Chief Kim now under investigation, it is reported that at least three current and former high-ranking officials have become subjects of the Special Investigation Unit’s probe.

The Special Investigation Unit is accelerating its investigation into allegations of real estate speculation by public officials. The Special Investigation Team for Real Estate Speculation Crimes of the Gyeonggi Southern Provincial Police Agency has been conducting raids since 9:30 a.m. today at six locations, including Gunpo City Hall, related to a Gunpo City official, Mr. A, who is suspected of speculation after purchasing plots in a public housing district. Mr. A reportedly purchased two plots (2,235㎡) in the Daeyami Public Housing District in September 2016 with four acquaintances for 1.48 billion KRW, reportedly earning several hundred million KRW in profits.

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