Ruling and Opposition Party Involved in Mud-Slinging over Real Estate Speculation

Korea`s ruling and opposition parties are involved in a dispute over alleged real estate speculation by party members as the ruling MDP came forward against the opposition GNP’s attacks on May 30. “We may let out a list of GNP members and information on real estate speculation,” they said.

The MDP`s Vice Representative Chang Jun-hyong argued on the same day, “Several GNP members hold unimaginable amount of real estate in a few new development areas including Gyeonggi Hwaseong and far off to Jeju Island.”

“If those people keep picking on President Roh over the real estate trades of his innocent brother and wife, which goes way back some 20 years, we cannot help but announce their problematic real estate information,” he said.

He warned that he would release the names of some 10 GNP members alleged to have speculated in real estate on June 1, and may release another 10 members in addition according to the GNP’s response.

Materials held by the MDP include some of GNP members who have land in Gyeonggi Hwaseong and Pankyo, or Jeju Island.

The GNP is causing another dispute over the materials saying, “It is a pity that the MDP has repeated the same thing over and over again since the election. It is highly probable that one of government agencies handed over additional materials to the MDP.”

The GNP Representative Park Jong-hee criticized, “While all the press and people demand that President Roh and his family members come clear on alleged real estate practices, it is only the ruling party that goes in the other direction to protect the President.”

In response, the MDP Vice Representative said, “We just added new materials to the existing materials obtained in the last election.”

Yong-Gwan Jung Jong-Hoon Lee yongari@donga.com taylor55@donga.com