NEWS BRIEF

[Anchor Lead]

Democratic Party presidential candidate Lee Jae-myung has apologized over controversy involving his wife Kim Hye-kyung. In a written statement today, Lee said he’s sorry to cause concern related to a former employee at Gyeonggi provincial government. He said that as governor, he should have thoroughly look into unjustified acts by subordinate officials and his wife also failed to detect in advance and prevent matters that could become problematic. Lee added that he thought he tried to hold himself and his surroundings to stricter, higher standards but such efforts were insufficient.
The main opposition People Power Party has criticized an explanation given by a former Gyeonggi provincial government employee related to alleged favors provided to the wife of ruling party presidential candidate Lee Jae-myung. The individual surnamed Bae said he or she was fully responsible, was overly loyal to Kim, and did not receive any orders, which the PPP called “an absurd lie.” A spokesperson for the party’s election camp questioned who would believe such a statement and said that Lee has tried to hush up various allegations including the land development scandal but this latest development could pull him down completely.
Finance Minister Hong Nam-ki said today the decline in housing prices is expected to accelerate considering the central bank's rate hike and expanded supply. In a ministerial meeting to inspect the real estate market, Hong said the government believes housing prices need to undergo a downward correction given their previous excessive rise and will therefore continue to adhere to a policy direction to stabilize prices. In February last year, the government unveiled a plan to supply 836,000 new homes in the next four years. Hong assessed the measure’s swift implementation has helped to stabilize the market.