KB News Desk
President Lee Jae Myung’s apartment in Seongnam, Gyeonggi Province, is expected to be sold, according to the presidential office on Tuesday.
This follows Lee’s statement at a cabinet meeting earlier in the day: “I no longer own a home,” indicating the sale is nearly complete.
The presidential office stated that the sale of Lee’s apartment is in its final stages, with a preliminary agreement signed and the final contract expected soon.
The sale is part of Lee’s broader effort to address rising housing prices.
Earlier this year, he pledged comprehensive reforms to South Korea’s real estate tax system, stating the government would create “a market where selling is more advantageous than holding” for owners who keep homes for investment or speculation rather than residence.
Lee listed his only home, a jointly owned apartment in Seongnam, for sale in February, and a preliminary agreement was signed shortly after.
The presidential office added that the buyer set to sign the final contract is the same person who entered into the preliminary agreement.
