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NMDP, `Lee H. C. Is Suspicious of Speculative Investment in Land`

NMDP, `Lee H. C. Is Suspicious of Speculative Investment in Land`

Posted March. 16, 2002 09:47,   


The New Millennium Democratic Party waged a full scale war against the Grand National Party, raising the suspicions concerning the GNP president Lee H. C.`s speculative investment in land, the life of his second son Soo-Yeon while studying abroad, and the purchase of a luxurious house in LA.

In response, GNP raised the suspicion again that the luxurious villa under the name of Lee Seong-Ho, nephew of the President, in fact belongs to Rep. Kim Hong-Il (NMDP).

Chang Jeon-Hyung, vice spokesperson of NMDP, urged Lee H. C. to explain about the suspicion of speculative investment, arguing “GNP president Lee H. C. bought the land of 7134 pyongs in Hwasung City and Pangyo, Seungnam city, while he was a lawyer in 1987. It was only about a year before `New City Development Plan in 5 Cities,` which included the areas that Mr. Lee purchased.”

He added that “GNP explained that the purchase was for a family graveyard but the related law limits the size of family graveyard in 600 pyongs and this area was emerged as a new developmental area.”

Spokesperson Chang also said, “Mr. Lee`s second son lived a luxurious life, wasting over 210,000 dollars a year including tuitions and living expenses while he was studying abroad. We had a report that Lee S. Y. and Lee H. C. bought together a very luxurious villa in LA for 1.38 million dollars under the names of the two.”

Nam Kyung-Pil, spokesperson of GNP, refuted that “Lee S. Y. studied at Boston University from June 1997 to August 1999. He lived there a common life spending 65,000 dollars for living expenses (2500 dollars a month) and 52,000 dollars for tuition.”

He also declared to make a judiciary response to the allegation of NMDP, saying “Lee H. J. has two condominiums in the U.S. under his name and his wife`s but no house as a joint property. The land of president Lee in Hwasung was purchased to create a family graveyard. The land was never transferred to any other person and was included in the property report of the government officials.”

Meanwhile, Bae Yong-Soo, vice spokesperson of GNP, reiterated that “a local press reported that the villa in LA under the name of Lee Sung-Ho belongs to Rep. Kim Hong-Il. He must clarify who paid for the villa and where the money came from.” In response, the Rep. Kim Hong-Il side announced that they will file a lawsuit against spokesperson of GNP soon after reviewing legal problems.

In-Soo Song issong@donga.com · Young-Chan Yoon yyc11@donga.com