Chun Ha-ram: "Loans blocked for people in their 20s and 30s... Kang Shin-chul’s son bought a 700 million-won commercial property through an ‘uncle-by-marriage advantage’"

[Financial News] Chun Ha-ram, acting leader and floor leader of the Reform Party, alleged that an “uncle-by-marriage advantage” was behind the purchase of a commercial property worth 700 million won by the son of Kang Shin-chul, nominee for minister of national defense.
On the 8th, Chun Ha-ram said on Facebook, "I have uncovered the source of the funds used by the 29-year-old son of Kang Shin-chul, nominee for minister of national defense, to purchase a 700 million-won commercial property in Yangji Maeul," claiming, "He borrowed 715.5 million won for 10 years from his aunt and uncle by marriage."
According to Chun Ha-ram’s claim, Kang Shin-chul’s son borrowed approximately 500 million won from his aunt—the wife’s older sister—and 215.5 million won interest-free from his uncle by marriage—the wife’s older sister’s husband.
He pointed out, "When I obtained the registry of the Yangji Maeul apartment jointly owned by the aunt and uncle by marriage, I found that their dates of birth exactly matched those listed on the loan agreement," adding, "What aunt and uncle by marriage would casually lend 700 million won to a 29-year-old nephew who had been employed for only a year?"
He continued, "In particular, it is said that he borrowed 215.5 million won interest-free for 10 years from his uncle by marriage, identified only by the surname Jeon," criticizing the arrangement by saying, "They filled the 217 million-won limit for an interest-free loan agreement that can avoid gift tax."
He then lashed out, saying, "I have never heard or seen anything like this ‘uncle-by-marriage advantage’ in my life," and added, "They call it a loan, but it is no different from a carefully planned gift between family members."
Chun Ha-ram asked, "People in their 20s and 30s today cannot even obtain bank loans of more than 600 million won because of real estate regulations when trying to find a newlywed home," adding, "Meanwhile, someone was casually lent 700 million won by an aunt and uncle by marriage to buy a commercial property slated for redevelopment, and will apparently be living in a new apartment in Bundang, a new town district in Seongnam, South Korea, a few years from now. President Lee Jae Myung, I hear public sentiment among people in their 20s and 30s is hitting rock bottom these days. Will you still appoint him as minister?"
He continued, "The nominee’s son’s aunt and uncle by marriage also own an apartment in Yangji Maeul," calling them "a Yangji Maeul cartel family that gets along well with President Lee Jae Myung."
He emphasized, "The president sold Yangji Maeul after placing a mortgage of 1.7 billion won on it, but the national defense minister nominee’s family bought Yangji Maeul through private family lending, betting on redevelopment," adding, "If the president’s pledge to eradicate real estate speculation was not a lie, this is an issue over which he should be furious and withdraw the nomination."
He added, "I strongly urge the withdrawal of Kang Shin-chul’s nomination."
[email protected] Kim Su-yeon Reporter