Yoon Hee-sook Provides Additional Explanation on 'Real Estate Allegations' This Afternoon

Explanation Expected on Allegations of Using KDI Information in Father's Sejong City Farmland Purchase and Others

On the 25th, following the investigation by the Anti-Corruption and Civil Rights Commission regarding illegal suspicions related to real estate, People Power Party lawmaker Yoon Hee-sook is leaving the press briefing room after holding a press conference to resign from her lawmaker position and presidential candidacy. (Photo by Yonhap News)

[Asia Economy Reporters Bomryeong Geum and Juni Park] On the afternoon of the 27th, Yoon Hee-sook, a member of the People Power Party, held a press conference to actively refute various allegations raised after announcing her resignation from the National Assembly. This came from the judgment that more detailed explanations were necessary as the situation worsened despite her strong response of not running in the presidential election and resigning from her position.

A representative from Yoon’s side told Asia Economy in a phone call that "It seems she will explain all the issues raised so far. Many of the allegations are not true."

The allegations Yoon needs to clarify mainly fall into two categories. One is that she purchased farmland in Sejong City in 2016 aiming for capital gains. It was also alleged that Yoon might have used internal information during her time at the Korea Development Institute (KDI) to do so, and that her sister’s husband, who was a close aide to Choi Kyung-hwan, the powerful Deputy Prime Minister and Minister of Strategy and Finance during the Park Geun-hye administration, might have had access to related information. Another allegation concerns Yoon’s sale of an apartment she received through the ‘Sejong City special supply’ while working at KDI, reportedly making a capital gain of 235 million KRW.

The fallout from Yoon’s real estate speculation allegations has spread beyond KDI to calls for a full investigation of presidential candidates. Democratic Party presidential candidates Kim Du-kwan and Kim Yong-min have demanded a full investigation of KDI employees. In response, Yoon sent a message to reporters the previous day stating, "Baseless speculation and false information are being spread indiscriminately about me, my family, and my former workplace. I will respond strictly to any inaccuracies."

The People Power Party has taken a wait-and-see approach to whether Yoon’s press conference will resolve the allegations. Meanwhile, the ruling party has increased pressure on Yoon. However, the Democratic Party cannot simply attack Yoon without reservation, as there are still members within the party who have faced calls to resign over real estate scandals but remain in office. If the Democratic Party supports Yoon’s resignation, it could face severe criticism for double standards. Conversely, if Yoon is cleared through investigations, the party could face backlash. Kim Young-bae, a Supreme Council member of the Democratic Party, said on MBC radio that day, "This issue cannot be resolved simply by her resignation. The resignation card is a typical scapegoating and double standard." Regarding whether the National Assembly will process Yoon’s resignation, he said, "There has never been a precedent for a plenary vote on such a matter, and especially since the reasons have not been disclosed, I believe the Speaker of the National Assembly will not put it to a vote."

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