Image: Logo of the Democratic Party of Korea. Credit: Website of the Democratic Party.
Following an internal investigation, the Democratic Party 민주당 demanded 12 of its lawmakers suspected of real estate speculation to leave the party. The internal investigation was prompted by the LH Scandal from March, in which the employees of the Korea Land and Housing Corporation (LH) 한국토지주택공사 used the government’s inside information to speculate on real estate. (See previous coverage, “LH Scandal Upends Seoul Mayoral Race.”)
Kim Ju-yeong 김주영, Kim Hoe-jae 김회재, Mun Jin-seok 문진석 and Yun Mi-hyang 윤미향 were suspected of investing in real estate under a borrowed name. Kim Han-jeong 김한정, Seo Yeong-seok 서영석, and Im Jong-seong 임종성 were suspected of using inside information to invest in real estate. Yang Yi Won-yeong 양이원영, O Yeong-hun 오영훈, Yun Jae-gab 윤재갑, Kim Su-hong 김수홍, and Woo Sang-ho 우상호 were suspected of falsely claiming investment real estate as farm lands.
The main opposition People Power Party 국민의힘 initially resisted a similar investigation over its own legislators, but submitted to an investigation by the Anti-Corruption & Civil Rights Commission 국민권익위원회 after the mounting public pressure following the Democratic Party’s strong measures.