Presidential spokesman offers to resign over alleged real estate speculation


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Presidential spokesman Kim Eui-kyeom offered to step down on Friday over allegations that he has made speculative investment in real estates in a lucrative urban redevelopment zone in Seoul.

Kim has come under fire amid reports that he bought a building in western Seoul for about 2.6 billion won ($2.28 million) in July last year, with a 1 billion won in bank loan.

(Yonhap)

The deal was clinched at a time when the government announced tougher measures to curb skyrocketing housing prices and stem overheated real estate speculation, especially in redevelopment areas.

“As I’ve decided to leave, the faces of reporters covering the presidential office are called into my mind first,” Kim said in a message to reporters.

“My wife made a decision (to buy the building) without my consultation, but this is all my fault,” he added. (Yonhap)


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