Jang Dong-hyuk Says Lee Jae Myung's 'DPK-style Mortgage Deal' Is a Gangnam-Style Loophole That Should Face a Tax Audit

[Financial News] Jang Dong-hyuk, leader of the People Power Party, said on the 23rd that, in connection with President Lee Jae Myung's mortgage registration for an apartment in Bundang, he "used a Gangnam-style loophole to sell the home just before it became a 'water-damaged deed'" and that it was "a matter that should be subject to a tax audit."
Speaking at a Supreme Council meeting held at the National Assembly that day, Jang said, "The public is outraged over President Lee Jae Myung's 'DPK-style mortgage deal,'" and made the remarks.
Jang criticized the president, the Blue House and the Democratic Party of Korea (DPK), saying, "None of them understand the essence of why the public is angry. People are furious over the administration's real estate policy." He added, "With multiple layers of regulation, home prices have soared and jeonse has disappeared. Monthly rents have risen beyond what ordinary people can afford, and loans have been blocked, making it impossible to buy or sell homes."
He went on to ask, "Yet the president sold a house just before it became a 'water-damaged deed' by using a Gangnam-style loophole called a homeowner loan. He can borrow that much money and even has an official residence to live in, but how many ordinary people can do that?"
Jang said, "The president demonized homeowners by calling them devils, then sold a house by using a loophole that ordinary people could never even imagine." He added, "If you look at the registry, all the bad information is in there."
Jang emphasized that the National Tax Service had announced tax audits for 'cash-rich people unaffected by loan regulations' and 'people with excessive private debts,' meaning Lee could also become a target. He noted, "If this had been an ordinary citizen, they would have been thoroughly investigated for months in a tax audit."
He also questioned the relationship between Lee and the buyer. Jang said, "What kind of relationship do you have with someone you can lend 1.7 billion won to, not charge interest, trust completely, and believe will repay every penny once the house is sold later?" He pressured Lee, saying, "The best thing would be for the president to explain it first before the public investigates and uncovers the relationship."
[email protected] Lee Hae-ram Reporter