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 lien during President Lee Jae-myung's real estate sale was "regarding the unpaid balance that will be settled at the end of October."

On July 21, the Blue House announced to the press, "The ownership transfer was carried out in consideration of the buyer’s circumstances, and the establishment of the mortgage lien was conducted transparently based on a civil agreement between the parties to the transaction."

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. He transferred ownership without receiving the remaining 1.77 billion won and then established a mortgage lien. This raised criticism that the move may have circumvented government lending regulations.

In response, the Blue House stated, "The president's residence was a single home in which the president and his spouse actually lived for 28 years. It was disposed of at a price even lower than market value, foregoing the anticipated profits from reconstruction, to demonstrate the government’s commitment to normalizing the real estate market."

Regarding some speculation about a possible familial relationship between the buyer and President Lee, the Blue House countered, "The sale was conducted through standard real estate procedures," and added, "Claims of a personal or special relationship between the parties are baseless."

Meanwhile, the Blue House emphasized, "The designation of the property as a leading area for reconstruction took place in November 2024 under the previous Yoon Suk-yeol administration, when even the mayor of Seongnam was a member of the People Power Party. Allegations of favorable reconstruction designation are therefore groundless."

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