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On the 21st, President Lee Jae-myung sharply criticized an article that claimed Chinese buyers were snapping up apartments in Seoul’s Gangnam district, saying it appeared to be fake news deliberately manufactured to stoke anti-Chinese sentiment.
On X (formerly Twitter), Lee named the outlet and said it had posted a fake video report headlined “Chinese suddenly buy 944 Gangnam apartments…sweep up units put on the market by multi-homeowners,” which has since been deleted.
He said a review found that only five Chinese nationals purchased condominium-style units in Gangnam from January through April, calling the story plainly false. “It’s a media organization—an economic outlet, no less—so how does whipping up anti-Chinese sentiment help the country or the public?” he asked.
The outlet had reported on the 15th that, just before the resumption of heavier transfer taxes on multiple-homeowners, Chinese buyers had concentratedly purchased units that multi-homeowners listed in Gangnam, Songpa and Yongsan.
The Ministry of Land responded with a statement saying the article was inaccurate. It provided figures showing that of 592 foreign buyers who applied for ownership-transfer registration on condominium-style properties in Seoul from January through April, 218 were Chinese, and only five Chinese buyers purchased such properties in Gangnam.
At a Cabinet meeting he chaired at the Blue House the previous day, Lee also criticized the report sharply.
“Why would you publish that kind of lie? You’re doing it to provoke anti-Chinese sentiment,” he said, asking officials to review whether those who spread falsehoods under the name of journalism—and thereby create policy confusion—can be punished.
Blue House Chief of Civil Affairs Bong Wook replied that amendments to the Telecommunications Business Act now allow for criminal penalties when someone derives economic gain from fake news, and that defamation or insults can be punished under the criminal code.
Lee said it should not be difficult to hold accountable outlets that publish fake articles that distort or manipulate government policy. He urged the relevant ministries to file correction or rebuttal requests and to ensure those responsible are held to account, rather than letting the outlet off with a belated headline change.
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