Cheong Wa Dae spokesman denies property speculation

By Jung Da-min

Cheong Wa Dae spokesman Kim Eui-kyeom. Korea Times file

Presidential spokesman Kim Eui-kyeom is in the hot seat following a media report that he possibly engaged in property speculation.

Last July, Kim bought a two-story building in an area slated for redevelopment in Dongjak-gu, southern Seoul, for 2.57 billion won ($2.26 million). He received a loan of over 1 billion won to buy the building.

The Chosun Ilbo reported Thursday the purchase could have been speculative considering the large size of the loan.

But Kim said he bought the building to live with his family after leaving Cheong Wa Dae.

“I have lived in the official residence at Cheong Wa Dae since February last year after living for about 30 years on a lease after I got married,” Kim said.

Members of the main opposition Liberty Korea Party in front of the two-story building purchased by Cheong Wa Dae spokesman Kim Eui-kyeom, located in Dongjak-gu, southern Seoul, Thursday. Yonhap