People Power Party: "Yoon's In-Laws Do Not Hold Yangpyeong Property Under a Borrowed Name... It Is for Managing Ancestral Burial Grounds"

Yoon Seok-yeol, the presidential candidate of the People Power Party, is attending and speaking at a video conference on the issues and improvement measures for COVID-19 response held at the Korea Medical Association in Yongsan-gu, Seoul on the 16th. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Moon Hyewon] Yoon Seok-yeol, the presidential candidate of the People Power Party, denied on the 16th the allegations of 'nominee ownership' of his in-laws' land in Yangpyeong, stating that "it is clearly not true."

Lee Yang-su, chief spokesperson of the People Power Party's Central Election Committee, said in a statement on the 16th, "It is inappropriate to call the land related to the family burial ground a 'family business.' Choi Eun-soon (Yoon's mother-in-law) asked her older brother, who was farming in Yangpyeong County, to purchase about 100 pyeong of leftover land near the access road with her brother's money, and after her brother's death, the land was inherited by his children," he said.

Lee explained, "To manage the family burial ground across generations, it is better to consolidate the land as 'one family,' so the Choi Eun-soon family repurchased about 100 pyeong of land," adding, "Since it was a family transaction for the purpose of managing the burial ground, the transaction was made at a price similar to the publicly announced land price."

He continued, "It is unreasonable to claim 'nominee ownership' by calling such details a 'family business,'" and said, "Transactions with acquaintances were also made above the publicly announced land price, and since each transaction was made based on individual calculations, there is no basis for nominee transactions at all."

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