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Democratic Party Candidate Yang Moon-seok Apologizes for Controversial 1.1 Billion Won Business Loan in Daughter’s Name

◀ Anchor ▶

Democratic Party candidate Yang Moon-seok took out a business loan worth 1.1 billion won in the name of his college student daughter and used it to repay the loan for the purchase of an apartment.

Candidate Yang said he had lost his guard due to industry practices and apologized for the illegal lending.

However, the first company to offer a business loan was Saemaeul Geumgo, which said that it was not a “fraudulent loan” and that it would file a criminal complaint against the media that reported the related news.

This is reporter Park Yoon-soo’s report.

◀ Report ▶

Democratic Party candidate Yang Moon-seok apologized for receiving a business loan worth 1.1 billion won in the name of his college student daughter.

[양문석/더불어민주당 경기 안산갑 후보 (29일, 유튜브 ′상록수 양문석TV′)]

″I think it was an expedient loan that did not meet the public’s expectations. What we did was wrong.”

In the process of looking for a low-interest loan after paying off debt and purchasing an apartment worth 3 billion won in 2020, Saemaul Geumgo suggested that he take out a business loan first.

Candidate Yang issued a statement again today, saying that he had lost his guard by relying on “industry practices,” and that “expedient” lending practices deserved criticism.

We also asked Saemaul Geumgo, which lent the money, whether they had at least once gone through a verification process to ensure that the loan money was being used properly in the name of the loan.

It has been reported that in order to receive a business loan, you must submit not only your business registration certificate but also a list of business-related items purchased.

It appears that these documents were also used in the business loan process of candidate Yang, who admitted to receiving an expedient loan by relying on industry practices.

During the recession caused by the coronavirus, 1.1 billion won, which should have gone to small business owners in desperate need of business funds, was ultimately used by candidate Yang to purchase an expensive apartment in Gangnam worth around 3 billion won.

Candidate Yang said he would sue media outlets that reported this process as a “fraudulent loan.”

Representative Lee Jae-myung emphasized the qualifications of a politician during today’s campaign and sent a warning against real estate speculation.

[이재명/더불어민주당 대표]

″People who speculate in real estate and live well all their lives and then come out and say they want to have more power to live a better life, you need to be careful.″

The Democratic Party is not taking a position on the future of candidate Yang.

This is Park Yoon-soo from MBC News.

Video coverage: Seo Hyeon-kwon / Video editing: Yoo Da-hye

2024-03-30 11:02:22
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