Blue House: President Lee Decides Not to Charge Interest on 1.77 Billion Won Mortgage

The Blue House announced on July 22 that President Lee Jae-myung will not receive interest from the buyer on the 1.77 billion won mortgage he set during the sale process of his house in Seongnam, Gyeonggi Province.

On the same morning, Deputy Spokesperson An Guiryung of the Blue House appeared on the YouTube channel “Fact Mill,” stating, “If the payment of the balance is deferred for several months, the amount is substantial so the interest would also be significant, but it has been confirmed that President Lee has decided not to receive any interest.”

President Lee Jae-myung is speaking at the Cabinet meeting held at the Blue House on July 21, 2026. Photo by Yonhap News.

Han Mondo, Professor of Real Estate at Seoul Digital University, who also appeared on the show, added, “There may be questions as to why interest is not being received, but considering that the mortgage period is not one to two years but rather three to four months, President Lee chose not to collect it.”

Previously, President Lee sold his Bundang apartment, which he owned, for 2.9 billion won. Of the 2.9 billion won, President Lee only received approximately 1.1 billion won from the buyer before transferring ownership. For the remaining 1.77 billion won, a mortgage was set up, and the buyer plans to pay the balance after selling their current home in October.

Meanwhile, Deputy Spokesperson An refuted criticism from some quarters claiming that President Lee had given the buyer an opportunity for “gap investment,” stating, “That is not true. The buyer intends to live in the apartment.” Professor Han also explained, “The property President Lee sold is in a land transaction permit zone, which is subject to review,” and added, “Even if someone wanted to make a gap investment, it is not permitted in this area.”

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