"I no longer have a home"... Lee Jae Myung's Bundang apartment, held for 29 years, has been sold

[Financial News] Lee Jae Myung's apartment in Bundang District, Seongnam City, which he put up for sale, is reportedly in the final stages of being sold.

A Blue House official said on the 14th that the Bundang apartment jointly owned by President Lee and First Lady Kim Hye-kyung is expected to have its main sales contract completed within days.
The buyer of the apartment owned by Lee is the same person as the preliminary contract holder. The final sales contract was delayed because it took time to obtain land transaction permission.
Earlier, Lee put up for sale in February the 164-square-meter apartment in Yangji Village, Bundang District, which he had owned for 28 years, as part of efforts to normalize the real estate market.
Lee and his wife bought the 164-square-meter apartment, or 59 pyeong, in Kumho Complex 1 in Yangji Village, Bundang District, Seongnam City, Gyeonggi Province, for 360 million won in 1998 and held it for about 29 years. According to the registry, they transferred half of the ownership share to Kim around November 2018, putting the home under joint ownership.
At the time, Kang Yoo-jung, the Blue House chief presidential spokesperson, said, "Although he was a one-home owner for residential purposes, it is understood that he intended to show the public his commitment to normalizing the real estate market." She added, "The apartment has been listed below last year's actual transaction price and the current market price." Lee is said to have listed the apartment for 2.9 billion won, about 10% below market value.

Through social networking service (SNS), Lee explained, "I bought this house in 1998. After moving from one rented place to another, it was the first and last house I ever bought during the IMF crisis." He added, "It is the house where I raised my children and spent my youth, so I am attached to it far more than money can measure."
He went on to say, "I did not buy it because of money, and I did not sell it because of money either." He added, "Financially, it may even have been profitable. But as the top official responsible for real estate policy, I thought I should fulfill my duty as a public servant who should set an example for everyone, rather than give people a political target over housing issues, so I sold it."
gaa1003@fnnews.com Ahn Ga-eul Reporter