[Exclusive] Wife of George Ho, Candidate for Commissioner of Police, Signs Contract for Second Son's Officetel

"Second son abroad, acting as proxy"... Suspicion of illicit gift
Buyer's personal information includes 'spouse contact'
June 29 National Police Agency Chief nominee's parliamentary confirmation hearing

It has been revealed that the spouse of nominee Jo Ji-ho, the candidate for Commissioner of the National Police Agency, signed a sales contract for an officetel unit on behalf of their second son. Although Jo's side explained that the second son was abroad and the contract was signed by proxy, suspicions of illicit gifting are growing.

Candidate Jo Ji-ho for Commissioner of the National Police Agency.
Photo by Yonhap News

According to Rep. Mo Kyung-jong of the Democratic Party of Korea on the 29th, the officetel sales contract dated November 9, 2020, lists the contact information and email of Jo's spouse as the buyer. Following confirmation that the spouse lent money to the second son at a low interest rate and proceeded with the officetel contract, suspicions of indirect gifting have arisen. Jo's side explained, "The son was in the United States, so it was done by proxy."

In December 2020, Jo's spouse lent 150 million KRW to the second son as a loan for purchasing the officetel, receiving 250,000 KRW monthly at an annual interest rate of 2%, but did not pay interest income tax. The second son also did not report withholding tax on the interest. Even when a loan agreement is made between family members, 27.5% withholding tax on interest income must be withheld and paid. It is estimated that about 2,887,500 KRW, which is 27.5% of the total interest income of 10.5 million KRW, was not paid. Jo's side stated, "We believe the interest rate is not problematic at all," and added, "We were unaware that interest income tax had to be paid but have now paid it after learning this."

The loan agreement initially submitted to the National Assembly between Jo's spouse and second son only specified the loan amount without conditions such as interest rate or repayment date. Although additional interest payment records were submitted, no repayment date was set, leading to criticism that the loan was a disguised gift. Jo's side countered, "Our son is a student, and he needs to find a job to repay the money, so it seems stranger to specify a repayment date in the loan agreement."

Rep. Mo said, "The National Tax Service should conduct a tax investigation to determine whether illicit gifting occurred," and added, "It is questionable whether a public office candidate with tax evasion suspicions, even involving a small amount, is qualified to become the Commissioner of the National Police Agency."

Meanwhile, Jo's confirmation hearing at the National Assembly is scheduled to begin this morning. The hearing is expected to focus on ▲ allegations related to Jo's family ▲ investigation results of the Marine Corps soldier Chae Sang-byeong's death case ▲ lobbying allegations for the ex-Marine Corps 1st Division Commander Lim Seong-geun's exoneration. Regarding Jo's family, suspicions include illicit gifting to the second son, the spouse's false address registration, and preferential treatment during the eldest son's service as a police conscript.

Many individuals related to the Chae Sang-byeong case will appear as witnesses and reference persons. Former Black Pearl Investment CEO Lee Jong-ho was identified as the secondary stock manipulation control tower in the Deutsche Motors stock manipulation case involving President Yoon Seok-yeol's wife Kim Gun-hee. Lee is suspected of organizing golf meetings and lobbying VIPs to exonerate former Division Commander Lim. Former Gyeongbuk Police Agency Investigation Chief Noh Gyu-ho (currently Investigation Chief of Gyeonggi Northern Police Agency) is listed as a witness, and Lim Sang-gyu, Investigation Review Committee Chairman of Gyeongbuk Police Agency, is listed as a reference person.

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