South Koreas Deputy Minister Apologizes for Controversial Housing Remarks
On the 23rd, Lee Sang-gyeong, the First Deputy Minister of Land, Infrastructure and Transport, issued a public apology regarding his controversial remarks on a YouTube channel where he advised citizens to "save money and buy a house." This controversy was further fueled by revelations about his own gap investment (buying property with a tenants deposit and loans).
In his apology, Deputy Minister Lee stated, "I participated in the YouTube discussion to better explain the 10-15 measures, but I failed to fully understand the perspectives of citizens who are diligently working towards their dream of homeownership. As a senior official in charge of real estate policy at the Ministry of Land, Infrastructure and Transport, I sincerely apologize for causing distress to the public."
He acknowledged that his spouse had purchased an apartment for actual residence but admitted, "I humbly accept that this does not meet the expectations of the citizens." He expressed his intention to reflect on himself following this incident.
Lee concluded his statement by committing to work diligently to stabilize the housing market as someone responsible for real estate policy.
Earlier, during his appearance on the YouTube channel, Deputy Minister Lee had sparked controversy by saying, "Buying a house now causes stress. Save money and buy when prices stabilize." This statement drew significant backlash, especially after it was disclosed that his spouse had engaged in gap investing.
As public sentiment soured, Han Joon-ho, a senior member of the Democratic Party, also issued an apology for Lees remarks, stating, "We caused concern to the public due to the inappropriate remarks made by this Deputy Minister. As a member of the partys supreme committee and the National Assemblys Land, Infrastructure and Transport Committee, I sincerely apologize to the citizens." Park Soo-hyun, the partys chief spokesperson, also addressed reporters following the supreme committee meeting, further emphasizing the partys stance.
In his apology, Deputy Minister Lee stated, "I participated in the YouTube discussion to better explain the 10-15 measures, but I failed to fully understand the perspectives of citizens who are diligently working towards their dream of homeownership. As a senior official in charge of real estate policy at the Ministry of Land, Infrastructure and Transport, I sincerely apologize for causing distress to the public."
He acknowledged that his spouse had purchased an apartment for actual residence but admitted, "I humbly accept that this does not meet the expectations of the citizens." He expressed his intention to reflect on himself following this incident.
Lee concluded his statement by committing to work diligently to stabilize the housing market as someone responsible for real estate policy.
Earlier, during his appearance on the YouTube channel, Deputy Minister Lee had sparked controversy by saying, "Buying a house now causes stress. Save money and buy when prices stabilize." This statement drew significant backlash, especially after it was disclosed that his spouse had engaged in gap investing.
As public sentiment soured, Han Joon-ho, a senior member of the Democratic Party, also issued an apology for Lees remarks, stating, "We caused concern to the public due to the inappropriate remarks made by this Deputy Minister. As a member of the partys supreme committee and the National Assemblys Land, Infrastructure and Transport Committee, I sincerely apologize to the citizens." Park Soo-hyun, the partys chief spokesperson, also addressed reporters following the supreme committee meeting, further emphasizing the partys stance.
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