◀ again ▶
The new governing administration is placing strain on community enterprises.
The Ministry of Technique and Finance is putting pressure on them to promote their place of work structures or land mainly because the administration of public institutions is lax.
But this is just not the very first time this has took place.
For the duration of Park Geun-hye’s administration, the Ministry of Method and Finance questioned general public establishments to sell assets, and Korea Countrywide Oil Corporation basically bought the business office building.
But who purchased the assets and who benefited from this transaction, we discovered that it was a serious estate financial investment business established by previous officials of the Ministry of Arranging and Finance.
1st, let us just take a appear at Ko Eun-sang’s report.
◀ Report ▶
A new 23 storey developing in Ulsan.
This is the headquarters of the Korea Nationwide Oil Corporation.
According to the transfer of general public enterprises in the provinces, it was just lately designed in 2014 with an financial investment of 186 billion gained.
But now the operator is divided.
Since the oil business marketed it.
Korea Nationwide Oil Corporation marketed this new workplace developing in Ulsan to a non-public organization in 2017 and then rented it out all over again.
The rent compensated in the past 5 a long time by yourself has achieved 48 billion received.
[석유공사 직원]
“(How does it truly feel to really feel you are paying billions of received in hire?) It wouldn’t be superior to own your dwelling. Fairly than a jeonse.”
Why did the Korea Countrywide Oil Corporation market a new creating that was less than a few years outdated and start off renting a space?
This is since, through the administration of Park Geun-hye, the Ministry of System and Finance requested community organizations to decrease their credit card debt and offer their property.
[유일호/당시 경제부총리 겸 기재부장관 (2016년 6월)]
“By greatly lessening the debt of public establishments and resolutely resolving a lax administration criticized by community view”
Ought to the Korea Countrywide Oil Company sell its headquarters?
In 2018, the Board of Audit and Inspection issued an audit outcome stating that it was completely wrong for KNOC to offer its business developing.
He mentioned he would drop 58.5 billion received around 15 years of rent, etcetera.
So who bought the constructing?
It is a corporation called KORAMCO REITs & Rely on.
KORAMCO was launched by Mr. Kyu-Sung Lee, who served as Finance Minister two times in the late 1980s and 1990s, and served as its initially president.
The second president is Lee Woo-cheol, former vice president of the Financial Supervisory Provider, and the present 3rd president is Yun Yong-ro, previous vice president of the FSC.
All three past presidents are former finance ministers.
It is a company headed by former associates of the present-day Ministry of Finance.
KORAMCO bought the building and leased it to Korea National Oil Company, and has attained a secure rental profits of KRW 9.6 billion each year more than the past 5 decades.
KORAMCO REITs & Belief is a wholly owned subsidiary of KORAMCO REITs & Management.
A top figure is witnessed in the middle of the board of administrators.
A human being detailed future to Cha Jeong-ha, a previous Lone Star Korea consultant.
I’m Yoo Il-ho, an outdoors director.
He is the most recent head of the Ministry of Technique and Finance of the Park Geun-hye authorities, which has asked to promote the assets of general public providers to minimize the debt of general public businesses.
Next his resignation in 2017, Yoo joined the enterprise as an exterior director in March of this yr.
[권재석/한국노총 공공노련 상임부위원장]
“Just isn’t the invisible hand performing for all the ministers and bureaucrats of the Ministry of Tactic and Finance, who were the creators of general public organization guidelines, to work in these kinds of a have faith in organization for a pretty higher income?”
Yoo Il-ho explained he experienced no thought that Korea National Oil Company had marketed the workplace creating to KORAMCO.
It is correct that the Ministry of Approach and Finance is defining wide recommendations, but it has mentioned it is not precisely involved in what property were offered to whom.
[유일호/전 경제부총리, 현 코람코 사외이사]
“(Did you know that Korea Countrywide Oil Company sold its property to KORAMCO?) Korea Nationwide Oil Corporation did it? Can not you do it?
KORAMCO stated that he normally entered the tender and bought the setting up and that the recruiting of Yoo Il-ho had absolutely nothing to do with this.
This is Go Eun-sang from MBC News.
Movie Protection: Lee Sang-yong / Online video Editing: Kwon Ji-eun
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