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National Public Interest Movement (국민의힘) called out Prosecutor Hong Jiseon's reported apartment acquisition as potentially an "extortion" purchase. The political party's comments were sparked by a recent inspection of Hong's financial records. Prosecutor Hong reported property worth 8.2987 million won, with his spouse and mother jointly owning a 10.5 million won apartment in Seoul's Geunjeong-gu district.

During an inspection, Prosecutor Hong disclosed a loan of 3.670 million won from a housing loan and his spouse borrowed 1.7 million won from his mother. This financial setup allowed the couple to purchase the high-value property for only 4.6 million won, resulting in a 1-year profit of 4 million won upon reselling it at its current estimated worth of 14 million won.

Critics argue that the 'extortion' claim is exaggerated and unlikely given the low LTV ratio (36%) and the fact that the couple's total debt (53%) is far from the 60% limit in non-regulated zones. However, some argue that the timing of this purchase was savvy, as Seoul apartment prices have since significantly increased.

Written by urgent.news from Hankyoreh's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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