Jang Dong-hyeok Sells Four of Six Homes, Keeps Only Seoul and Constituency Apartments

[Financial News] It was learned on the 26th that Jang Dong-hyeok of the People Power Party (PPP) has sold four of the six homes he owned. He has kept only an apartment in Guro District, Seoul, where he and his family actually live, and an apartment in Boryeong, South Chungcheong Province, which he uses for constituency activities.
According to the People Power Party (PPP), Jang recently sold four properties: a detached house in Ungcheon-eup, Boryeong-si, Chungcheongnam-do, where his elderly mother had been living; an officetel near the National Assembly used for parliamentary work; a 20% stake in an apartment in Jinju, South Gyeongsang Province; and a 10% stake in an apartment in Anyang, Gyeonggi Province.
Previously, President Lee Jae-myung of South Korea and The Minjoo Party of Korea had attacked Jang by highlighting the fact that he owned multiple homes. They argued that while the PPP criticizes the government’s policy of encouraging multi-home owners to sell, Jang himself is a multi-home owner. In response, the PPP hit back by pointing out that Lee owns an apartment in Bundang District, Seongnam, reportedly valued at around 2.8 billion won, while the combined value of Jang’s six properties is said to be only in the 800 million won range.
As the controversy grew, Lee abruptly put his Bundang apartment on the market, and Jang appears to have followed suit by moving to sell his properties. Choi Bo-yoon, chief spokesperson of the People Power Party, explained, "Jang’s sale of his homes is something he has been working on over time," adding, "As many citizens know from experience, it is not easy to sell a home or dispose of a partial ownership stake."

uknow@fnnews.com Kim Yoon-ho Reporter