By I have been following the story about the controversy over the purchase of land for President Lee’s retirement home in Seocho and it appears to me the Korean left is out to find anything they can remotely demagogue to tarnish President Lee before he leaves office:
The prosecution has launched a probe into President Lee Myung-bak’s controversial purchase of land in southern Seoul to build his retirement residence.
The main opposition Democratic Party on Wednesday filed a complaint with the prosecution, accusing Presidential Chief of Staff Yim Tae-hee, the president’s son Si-hyung, and three others involved of negligence and violation of real estate transaction laws.
The party claimed that the President’s son purchased the lot in Naegok-dong for one-point-12 billion won, while the Presidential Office bought part of the lot under joint-ownership as well as other lands nearby at a higher rate at a total price of four-point-28 billion won. The opposition party claims that the government wasted budget as it tried to compensate the initial owner of the lots for selling the land at a lower rate to President Lee’s son. [KBS Global]
From what I have read President Lee had his son purchase the property in order to avoid a massive rise in property values in the area if people new the President was moving to the neighborhood. This caused accusations of Lee trying to avoid the inheritance tax which he says isn’t true because he was going to have the land transferred to his name once he left office. The whole thing seems pretty petty to me, but maybe I am wrong.
8:43 am on October 20th, 2011 1
“…it appears to me the Korean left is out to find anything…”
Well, remember which party caused a stink about Roh’s compound? Of course you do, but you chose to ignore it in order to bash the liberals. If I remember correctly, it had cost Roh 5 billion won, which is a lot less than what Lee is rumored to have paid just for the plot of land.
2:26 pm on October 20th, 2011 2
This sort of stuff happens in America too. Its not uncommon for Presidents to transfer homes and other land they may own just before taking office or have a third party purchase land just before leaving office for similar reasons as with LMB.
3:02 pm on October 20th, 2011 3
Demagogue is a noun.
4:05 am on October 21st, 2011 4
@1 – People were critical of Roh Moo-hyun because of the corruption surrounding him that was allowing him to make purchases of things such as the $1.6 million apartment he bought in Manhattan. Unless the Korean left can prove that Lee used money garnered though corruption to purchase this property this is nothing like Roh Moo-hyun.
5:34 am on October 21st, 2011 5
Don’t delude yourself – they’re all dirty………. If they are not already corrupt going in, they will be by the time they come out………….
11:17 am on October 21st, 2011 6
To foreigners out there… or here…
Myung Bak seki, is filthy, double talking a-hole.
He always talks about he’s poor background but he hasn’t done a thing for poor in SK.
He never served in the military. He was youngest CEO as soon as he started working for Hyundai Engineering & Construction Co.; he pretty set himself for life back then. So, this guy, probably forgot what it was like to be poor.
There is a widely believed rumor that the “four major river project” which gobbled up 20 billion US Dollars of Korean tax payers’ money during last the last four years was purely for the profit of not only himself(MB) but for his family and cronies.
That project was supposed to increase number of jobs but it only profited few construction companies.
MB’s a-hole brother, a stinking politician, has bought a major strips of real estate along the rivers under construction. He is also rumored to have purchased land around newly built highway exchange loop nearby Yeoju.
MB, his brother, and rest of his cronies WILL be prosecuted for their deeds.
Now, I am a conservative with far right attitude, but MB is really a hypocrite SOB who needs some serious ass beating. Everyone except MB, his wife, son, and his ugly daughter and those who profited from MB is out to get him.
MB should not purchase any land for his home. He should buy one-way ticket outta here and never come back. Or else, look what happened to Kadafi…..
12:11 am on October 22nd, 2011 7
#4,
Politicians, or at least the smart ones, take gifts (not cash) and promises for positions on the board of directors and the advisory boards of various corporations. They get paid an obscene amount of money to meet prospective clients and shake hands…millions per year to serve as window dressing, basically. For example, there’s a former Canadian Primer who’s on the board of directors of a dozen corporations and the advisory board of many more international corporations.