On Monday, IU came under fire for what appeared to be unfair land and real estate speculation in the city of Gwancheon. As public unrest rises, the singer decided to release photos to support her claim of denial.
On January 7, a petition was posted on the Blue House’s website requesting an inquiry into property bought by singer IU in January 2018. At that time, the singer reportedly spent around 4.5 billion won (4,030,290 USD) on real estate and land in the city of Gwancheon.
Sitting on the outskirt of the Seoul Metropolitan Area, Gwancheon is home to Seoul Land, the Seoul Grand Park, and soon, a Great Train eXpress (GTX) station, which lies at the heart of this controversy. The news outlet that broke the story claimed that in just one year, her property had appreciated 2.3 billion won, giving it a market price of 6.9 billion.
With the amount invest and the huge appreciation, the creators of the petition suspect that IU had insider information on the GTX development. As such, she had an unfair advantage over other buyers.
Further, there is also suspicious that she bought the land and buildings with the intention of selling it to the government later on when it begins constructing the GTX. The government announced the train’s anticipated route at the end of last year. The petition asks for the government to closely monitor the information leak in the course of the policy process, too.
IU denied the claims when the story first broke. In her denial message, the singer said that she had put the property to use as a private studio, a place for junior artists, and her mother’s office. Under these circumstances, she attempted to make it clear that she had no intention to sell off her properties.
Notwithstanding her claim, negative public opinion continued to mount. In response, IU’s agency announced that after consultation with her they have decided to reveal interior photos of the buildings currently in use. In doing so, they hope to further damage, prevent false information, and the spread of malicious rumors. More, it also firmly refutes the earlier report and say the claims are groundless.
According to the agency, one of her building is currently used as the singer’s personal studio, her mother’s office, and a warehouse. The publication, which has sparked some privacy concerns, has failed to have the desired effect and remains controversial.
While IU and her agency whether this storm, they will not stand for the “spread of false information and defamation” and will take legal action if necessary.
Translated by O.C
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