Yang Moon-seok "I will repay the loan by selling the apartment... Apologize once again"

Yang Moon-seok, the Democratic Party candidate for Ansan Gap in Gyeonggi Province, who has been embroiled in controversy over 'illegal loans,' announced that he will sell the problematic apartment to repay the loan.

On the same day, Yang stated on his Facebook, "To prevent any further controversy, I will dispose of the apartment and urgently repay the Saemaeul Geumgo loan."

[Image source=Yonhap News]

He added, "If any loss occurs during the disposal process, I will bear it," and "If any profit arises, I will donate the entire amount to a public interest organization."

Yang apologized again, saying, "I sincerely apologize to the people and the citizens of Ansan for causing concern," and emphasized, "I will act in a manner that meets the expectations of the people and the citizens of Ansan to prevent any further worries."

Earlier, Yang was caught up in controversy over whether the process of purchasing an apartment in Jamwon-dong, Seocho-gu, Seoul, using an 1.1 billion won business loan under his college-aged daughter's name, constituted an 'illegal loan.'

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