Trump Received 10 Billion KRW from Chinese Government and Others for Real Estate During His Term

US Democratic Party Report Released

Former U.S. President Donald Trump is alleged to have earned $7.8 million (approximately 10.2 billion KRW) from foreign governments through rent and other income from his buildings during his tenure.

On the 4th (local time), according to the New York Times (NYT) and others, Democratic members of the U.S. House Oversight Committee released a report stating that former President Trump earned $7.8 million from 20 foreign governments, including China, Saudi Arabia, and Qatar, through his businesses during his presidency.

Former U.S. President Donald Trump [Photo by Yonhap News]

Foreign governments paid millions of dollars to Trump International Hotel in Washington DC and Las Vegas, Trump Tower in New York, and Trump World Tower.

The largest client was the Chinese government. According to the report, the Chinese government paid $5.5 million to Trump’s businesses during his presidency. The Industrial and Commercial Bank of China (ICBC), China’s largest state-owned bank, is one of the largest tenants of Trump Tower in New York, owned by former President Trump.

In the first year of Trump’s presidency, investigations into financial transactions involving Chinese banks, including ICBC, and North Korea were conducted. Although there were demands to sanction Chinese banks, former President Trump reportedly took no action, the report claimed. The report stated, "Former President Trump did not impose sanctions despite Republican lawmakers’ requests to escalate financial and diplomatic pressure on Chinese financial institutions related to North Korea at the time."

The second-largest spender was Saudi Arabia. The Saudi government spent $615,000 (approximately 800 million KRW) at Trump Tower and Trump hotels. Qatar and Kuwait were also identified as major spenders, paying $460,000 (approximately 600 million KRW) and $300,000 (approximately 400 million KRW), respectively.

Democratic lawmakers argued that this violated constitutional provisions prohibiting federal officials from accepting money or gifts from foreign governments without congressional consent.

This report came amid the Republican Party’s impeachment inquiry into Hunter Biden, President Joe Biden’s second son. Some view this as a countermeasure to raise issues against former President Trump in response to the impeachment investigation.

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