Suspicion of Real Estate Nominee Trust: Moon Jin-seok Says "No Reason to Hold Remote Rural Farmland Under a Different Name"

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jin-young] On the 8th, Representative Moon Jin-seok, who was advised to leave the Democratic Party due to suspicions of real estate name trust following a full-scale real estate investigation by the Democratic Party, explained, "It is farmland in a remote rural area where future value inevitably falls below present value," adding, "There is absolutely no reason to hold it under a borrowed name."

In a statement released that day, Rep. Moon said, "I already sold the farmland to a local agricultural corporation at the market price at the time in March," and added, "The real estate transaction was a legitimate deal reported by a judicial scrivener, and currently, the registration also shows ownership by the agricultural corporation. However, the Anti-Corruption and Civil Rights Commission suspects borrowed-name ownership simply because the representative of that agricultural corporation is my brother."

He continued, "If the Special Investigation Headquarters requests an investigation, I will sincerely cooperate," and stated, "I will clearly explain and prove the suspicions raised by the Anti-Corruption Commission."

He accepted the recommendation to leave the party, saying, "Although I feel wronged, I will follow the leadership's decision to fulfill my duties as a party member." He added, "Once the suspicions are cleared after explanation, I will immediately return to our Democratic Party."

On the 8th, the Democratic Party decided to recommend withdrawal or take expulsion measures against all 12 Democratic Party lawmakers found to have engaged in illegal transactions or other misconduct following the full-scale real estate investigation by the Anti-Corruption and Civil Rights Commission. The list is as follows.

▲ Lawmakers suspected of real estate name trust (Kim Ju-young, Kim Hoe-jae, Moon Jin-seok, Yoon Mi-hyang) ▲ Suspected of using confidential information for work (Kim Han-jung, Seo Young-seok, Lim Jong-sung) ▲ Suspected of violating the Farmland Act (Yang Yi-won-young, Oh Young-hoon, Yoon Jae-gap, Kim Soo-heung, Woo Sang-ho).

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