Han Seong-sook's 'Fire-Sale Officetel Sale' Turns Out to Involve an Acquaintance

[Financial News] It was reported on the 26th that Han Seong-sook, the prime minister-designate, sold an officetel she owned in Gangnam District to an acquaintance at a low price. To address controversy over multiple homeownership, Han sold three homes at bargain prices before her confirmation hearing on the 25th.
Kim Hee-jung of the People Power Party asked during Han's confirmation hearing that day who the acquaintance was who had rented and bought the Gangnam officetel at below-market prices.
According to Kim, Han rented the property to the acquaintance on terms below market rates, with a deposit of 10 million won and monthly rent of 1.5 million won, compared with the usual 50 million won deposit and 4 million won monthly rent. Before the hearing, Han sold the officetel in a fire sale for 1.5 billion won, about 500 million won below the market price of around 2 billion won, and the tenant, who was the acquaintance, bought it.
Han explained that the buyer was the owner of the hair salon she used to visit, saying, "It had not sold even after I kept lowering the price, and when he said he wanted to buy it, I agreed to sell it." She added, "A fire-sale transaction at a low price is a basic part of real estate deals, so calling it an abnormal sign, such as a special favor, is excessive."
Kim then said the acquaintance had previously worked for Kwon Yang-sook, the wife of former President Roh Moo-hyun, and raised questions, saying, "When I asked whether he had also worked for another First Lady, contact was lost. What kind of relationship is this, exactly?"
In response, Han and the Democratic Party of Korea pushed back, saying that mentioning the First Lady was an excessive attempt to raise suspicion. Han said, "It is hard to accept bringing up the First Lady as well. It is sensationalist," while Democratic Party lawmaker Lee So-young criticized the hearing, saying, "The level of this hearing is embarrassing. It is a leap and speculation that even elementary school students would not make."

uknow@fnnews.com Kim Yoon-ho Reporter