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President Lee Jae Myung Sells Seongnam Apartment for 2.9 Billion Won
The apartment owned by President Lee Jae Myung and first lady Kim Hea Kyung sold for 2.9 billion won five months after it was listed. Ownership transferred on July 16 with a mortgage registered in the sellers' favor.
Jul 20, 5:46 AM·1m read1 source
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President Lee Jae Myung and first lady Kim Hea Kyung completed the sale of their Seongnam apartment for 2.9 billion won, or US$1.96 million, with ownership transferring on July 16, Yonhap reported. The property, the couple's only home and located just south of Seoul, had been listed five months earlier in February.
Buyers registered a mortgage with a maximum secured amount of 1.78 billion won in favor of Lee and Kim.
The buyers have committed to paying the remaining balance around October. Cheong Wa Dae confirmed the sale. The presidential office stated that Lee, as owner of a single home, faced no obligation to sell but took the step to show commitment to his real estate normalization policy.
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