▲ People Power Party leader Jang Dong-hyuk appears deep in thought during a Supreme Council meeting held at the National Assembly on June 18.
Democratic Party (DP) members of the first half of the National Assembly's Land, Infrastructure and Transport Committee have called for an investigation into allegations of preferential real estate transactions and conflicts of interest involving People Power Party (PPP) leader Jang Dong-hyuk.
DP lawmakers Jung Jun-ho, Bok Ki-wang, Moon Jin-seok, Yoon Jong-kun, Son Myung-soo, and Ahn Tae-jun held a press conference at the National Assembly Communication Hall today (June 18), demanding that investigative authorities conduct a thorough, impartial probe into the alleged ties between leader Jang and a real estate development firm.
Citing recent media reports, the lawmakers raised suspicions that Jang, after facing the risk of losing a 1 billion won investment in a real estate development project, demanded a refund and was the only one among about 10 investors to receive land in Hwagok-ri, Seosan, South Chungcheong Province, as a substitute property.
They further argued that while Jang claims to be a victim of a 600 million won fraud by the firm, there are allegations that after retiring as a judge, he provided legal advice during the establishment of a new entity and the transfer of assets—a process suspected of being designed to help the firm evade seizure.
The lawmakers also pointed to media reports suggesting that Jang personally represented four key sales staff members of the firm who were sued for damages by other investors and introduced a former judge-turned-lawyer to the representative of the new entity. They asserted that this indicates Jang may have been closely intertwined with the firm rather than being a mere victim.
They noted that although Jang explained after the real estate controversy arose that he had "terminated the contract and have no further connection to it," reports have emerged that he sent a text message to the representative of the company developing the Hwagok-ri land as recently as last month to inquire about the possibility of a sale.
Allegations of violating the Conflict of Interest Prevention Act were also raised.
The lawmakers claimed that while Jang was serving on the budget subcommittee of the National Assembly's Special Committee on Budget and Accounts, he requested a 52.8 billion won budget increase for a highway project whose terminus was planned about 2 kilometers away from the land he received as a substitute property, and that 8 billion won in funding—which was not in the original government proposal—was subsequently reflected.
The lawmakers demanded, "Leader Jang must clarify his alleged ties and preferential treatment involving the real estate development group before the public and cooperate with police investigations," adding, "The police and prosecution must immediately launch a thorough investigation into the preferential land exchange, the ties to the real estate fraud, and potential conflicts of interest in the highway budget increase process."
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.