Blue House Orders Staff to Sell Off Real Estate They Don’t Live In

This is all for show because all these people have to do is transfer the real estate to their spouse or other family member. Additionally this does nothing to stop the insider real estate speculation going on by Moon administration allies that don’t work in the Blue House:

The Blue House ordered its high-ranking staff to sell any real estate they weren’t living in.

The announcement, released Monday by Blue House Chief of Staff Noh Young-min, is part of the government’s campaign to cool down real estate prices. 

“Chief of Staff Noh has stressed the need of Blue House high-ranking officials to lead by example,” said Yoon Do-han, Blue House senior secretary for public communication.  

The measure came as more former Blue House staff and top government officials have been accused of real estate profiteering, a cardinal sin for a liberal administration in Korea.  

The civic group Citizens’ Coalition for Economic Justice on Monday claimed that the value of properties owned by officials from the current Blue House has risen an average 300 million won ($256,000) in the last three years.  

The civic group claimed that the value of apartments and “officetels” (units in buildings used for both commercial and residential purposes) owned by 65 incumbent and former Blue House staffers as of January 2017 was valued at 820 million won on average, which rose roughly 40 percent to 1.14 billion won as of last month. 

Joong Ang Ilbo

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