President Lee Jae-myung sharply criticized media coverage emphasizing the 2.5 billion won capital gains from his Bundang apartment sale, calling it malicious.
"I bought this home in 1998. After years of renting, it was the first and last home I ever purchased during the IMF crisis," Lee wrote on X on the 27th, announcing his decision to sell the apartment in Bundang-gu, Seongnam, Gyeonggi Province. "This is where I raised my children and spent my youth—a home I'm attached to far more than any monetary value."
He added, "After leaving office, I wanted to live here until I died, surrounded by traces of my children and memories of my younger days."
Explaining his decision to sell, Lee said, "I didn't buy this house to make money, but the property value rose more than everything I earned working my entire life as a professional. While part of me was pleased, I also felt absurd—who would want to work if this is how it goes? It felt like committing a sin against society."
"Just as I didn't buy it for money, I'm not selling it for money either," the president continued. "There may be financial benefits, but as the person ultimately responsible for real estate policy, I decided to fulfill my duty as a public servant who should set an example, rather than provide fodder for political attacks over housing."
He emphasized, "If I had kept this home, it wouldn't have been because I expected prices to rise or redevelopment profits as some suggest—it's because this place holds my life and my children's memories, like a cherished keepsake."
Taking direct aim at the coverage, Lee wrote, "There's a saying: 'To a dog, everything looks like one thing.' '2.5 billion won in capital gains alone'—as if there's something else on top of that?"
He concluded, "I'll accept claims that this should be tolerated as press freedom, but treating me like a real estate speculator is clearly excessive."