Regarding President Lee Jae-myung setting a collateral mortgage of approximately 1.77 billion won during the sale of his apartment in Bundang, Cheong Wa Dae announced today (July 22) that he has decided not to receive interest on it.

Ahn Gui-ryung, Deputy Spokesperson for Cheong Wa Dae, made the remark this morning while appearing on Cheong Wa Dae's YouTube program "Fact Bangatgan," hosting a broadcast regarding the sale of President Lee's home with Han Moon-do, a professor of real estate at Seoul Digital University.

Regarding the arrangement where President Lee deferred the final payment date to around October while keeping the collateral mortgage in place, Deputy Spokesperson Ahn said, "Since the amount is large, the interest would be substantial for a deferral of a few months, but I understand that the decision was made not to receive interest."

In response, Professor Han stated, "It appears that the President was considerate of the buyer in this regard. While some might question why he isn't taking the interest, it is only a difference of 3 to 4 months, not 1 to 2 years."


However, some pointed out that not collecting interest could potentially become an issue as it effectively constitutes a gift.

In response, Cheong Wa Dae stated, "The issue of the gift tax arising from the zero-interest arrangement will be handled in accordance with relevant regulations," hinting that the buyer will pay the applicable gift tax.