People Power Party Finance Committee Members: "Nominee Lee Hyoung-il Remains Silent on Suspicions of His Own Gap Investment"

[Financial News] The People Power Party criticized Lee Hyoung-il, candidate for deputy prime minister and minister of finance and economy, on the 14th, saying, "Lee says he will increase the tax burden on non-resident single-home owners, yet he remains silent about suspicions that he engaged in a gap investment himself."
People Power Party lawmakers on the National Assembly Planning and Finance Committee said, "The nominee did not properly answer questions about whether he made a gap investment or why he had not lived in the property for an extended period." They added, "While saying that the government would increase the tax burden on the public based on actual residence, he cited his own long-term ownership and plans to live there in the future."
The People Power Party said it had asked Lee Hyoung-il whether he had made a gap investment in an apartment in Gwacheon, and that he replied, "I have owned it for more than 17 years and have lived my entire life as a single-home owner." The party said it also asked whether he had ever lived there, to which he responded, "I plan to live there after reconstruction."
The People Power Party pointed out, "The officially assessed price of the Gwacheon apartment, which was acquired for 420 million won, has now risen to 1.319 billion won, representing an increase of 214%." It added, "Even so, the nominee ultimately failed to answer the question, 'Was it a gap investment?'"
The party continued, "Given this inadequate attitude, it appears that the nominee does not intend to pass the confirmation hearing." It added, "The People Power Party will respond firmly to this one-way, ask-no-questions hearing that disregards the public."
The People Power Party also continued its criticism of the government and the Democratic Party of Korea. It said, "At the previous full session of the Planning and Finance Committee, the government and ruling party did not accept a single witness or expert witness." The party added, "In particular, the request to summon former Cheong Wa Dae Policy Chief Kim Yong-beom and the head of the Tax Policy Office at the Ministry of Finance and Economy was intended to assess the government’s policy capabilities under the tax reform plan. Yet the government and ruling party refused to comply even with this request."
The party continued, "The public knows that this is a failed tax reform plan and a ploy to prevent responsibility for it from spreading." It criticized the proceedings, saying, "This is a hearing that muzzles witnesses. Ultimately, it is heading toward a hearing that blocks the public from hearing the truth."
[email protected] Kim Hyeong-gu Reporter