Blue House: "No Personal Ties Between President Lee and Home Buyer... Preferential Treatment Claims Are Baseless"

"Sold Below Market Price to Demonstrate Commitment to Real Estate Normalization"

The Blue House explained that the establishment of a mortgage during President Lee Jae-myung's real estate sale process was "related to the unpaid balance scheduled to be settled at the end of October."

In a media notice on July 21, the Blue House stated, "The ownership transfer was processed in consideration of the buyer's circumstances, and the establishment of the mortgage was conducted transparently according to a civil agreement between the parties involved."

President Lee Jae-myung listens to the remarks of cabinet members at the State Council meeting held at the Blue House on July 21, 2026. Photo by Yonhap News Agency

Previously, President Lee sold his home in Seongnam, Gyeonggi Province, for 2.9 billion won, transferred ownership before receiving the remaining 1.77 billion won, and established a mortgage. This sparked criticism alleging he may have bypassed government loan regulations.

Regarding this, the Blue House explained, "The president's home was a single residence where the president and his spouse had lived for 28 years, and he completed the sale at a price lower than the market value, giving up any anticipated redevelopment profit as a sign of his commitment to normalizing the real estate market."

In response to suspicions that the buyer may have had familial or personal ties, the Blue House said, "The transaction was conducted through standard procedures using a real estate agency," and refuted claims of any private connections or special relationships between the president and the buyer, calling them groundless.

Meanwhile, the Blue House emphasized, "The designation of the property as a leading redevelopment district took place in November 2024 during the previous Yoon Suk Yeol administration, and at that time, the mayor of Seongnam was also affiliated with the People Power Party," dismissing allegations of redevelopment-related preferential treatment as baseless.

This content was produced with the assistance of AI translation services.