Former President Lee Myung-bak Appeals Auction Ruling on Nonhyeon-dong Residence

[Asia Economy Reporter Bae Kyunghwan] Former President Lee Myung-bak and his wife have filed an appeal in response to the public auction of their residence in Nonhyeon-dong, Gangnam-gu, Seoul.

According to the legal community on the 24th, the former president and his wife submitted an appeal to the Administrative Division 11 of the Seoul Administrative Court (Chief Judge Kang Woo-chan) the day before.

Previously, in April 2018, the prosecution indicted the former president on charges including bribery under the Act on the Aggravated Punishment of Specific Crimes and requested seizure preservation on some of his assets. The court then froze the Nonhyeon-dong residence and other properties. Subsequently, the prosecution entrusted Korea Asset Management Corporation (KAMCO) with the public auction to collect fines and confiscated money, and the building and land in Nonhyeon-dong were sold for 11.156 billion won in July.

Meanwhile, the former president's side argued that since the couple each owns half of the Nonhyeon-dong building, conducting a lump-sum public auction for the purpose of collecting confiscated money was improper. They also filed an administrative lawsuit but lost the case.

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