PM Park 'Apologizes' for Real Estate Scandal

Prime Minister Park Tae-joon stated on Wednesday through his spokesperson, Park Chong-ho, "The real estate case is in the courts at the moment, but I, as a public figure, am sorry to have caused such a dispute,".

An official at the prime minister's office explained the case, "For three pieces of real estate, Park transferred the nominal ownership to himself when the law changed in August of 1996, which indicates that he decided to use only his real name for real estate acquisition. When Park was elected a National Assembly member in 1997, he reported these properties." He also showed related materials to the press.

"Park hired broker Cho in 1988 and 1990 before the law changed. At that time, nominal trust was not illegal and it was a common and socially accepted practice," he claimed.

Meanwhile, a spokesman for the Grand National Party (GNP) Kwan Chol-hyon demanded, "Park should apologize to the public and think about his future position."

by Ko Chong-ae