Allegations have been raised that Rep. Yong Hye-in of the Basic Income Party, nominated as minister of gender equality and family, sold a house in Ansan, Gyeonggi Province, to a Chinese national less than a year after buying it, pocketing a gain on the sale.
Rep. Joo Jin-woo of the People Power Party raised questions on the 1st about Yong's past property transaction in a Facebook post and demanded that her nomination be withdrawn. "She called for an end to unearned property income, but she herself made a quick flip to a Chinese national," Joo said.
According to a certified copy of the property register released by Joo, Yong bought the house in Ansan in April 2021 and sold it to a Chinese national in March 2022. Joo said Yong reaped a gain of about 20 million won from the transaction.
Joo also took issue with remarks Yong made at the time. "By the standards of the Lee Jae-myung administration, this was a quick flip aimed at capital gains rather than a purchase for actual residence," he said. "On the day she bought the Ansan house, Yong said the goal of housing policy should not be price stability but price declines." He then asked, "Why didn't she sell her own house for less?"
Joo also criticized the fact that the buyer was a Chinese national. "The bigger problem is that Yong sold the house to a Chinese national," he said. "A lawmaker who should protect the interests of her own citizens effectively aided Chinese property shopping." He added, "Rather than correcting the imbalance in the property market, where our citizens lose out because reciprocity does not apply, she took advantage of it."
Joo also questioned the vetting standards of the Lee Jae-myung administration. "Are the vetting standards for ministerial appointments under the Lee Jae-myung administration hypocrisy and unfairness?" he said, urging the government to "withdraw Yong Hye-in's nomination immediately."
