Kang Shin-cheol: “It’s Hard to Interfere with My 30-Year-Old Son’s Financial Affairs”… Controversy Over 700 Million Won Commercial Property Purchase
Kang Shin-chul, Nominee for Minister of National Defense, Appears Before the National Assembly’s National Defense Committee for a Confirmation Hearing
Eldest Son Borrows 715.5 Million Won from Aunt and Uncle to Purchase Commercial Property in Bundang
Ruling and Opposition Parties Lock Horns Over Witness and Document Submissions; Military Academy Merger Also a Point of Contention
[Edaily Reporter kim kwanyong ] Kang Shin-cheol, the nominee for Minister of National Defense, stated regarding the fact that his eldest son borrowed 715.5 million won from his aunt and uncle to purchase a commercial property in Yangji Village, Bundang-gu, Seongnam, Gyeonggi Province, that “as a father, it is difficult to interfere in every detail of my 30-year-old son’s financial affairs.” However, Nominee Kang added, “As a nominee for minister, I sincerely apologize for falling short of the public’s expectations.”
Nominee Kang made these remarks on the 16th during his confirmation hearing for Minister of National Defense at the National Assembly, after People Power Party lawmaker Seong Il-jong intensively questioned him about the circumstances surrounding his eldest son’s real estate purchase.
Kang’s eldest son, born in 1996, is reported to have joined a mid-sized company last year after completing his service as a Reserve Officers’ Training Corps (ROTC) officer. In late June, he purchased a commercial property worth around 700 million won in Yangji Village, Bundang, an area currently undergoing redevelopment. It was revealed that, to finance the purchase, he borrowed 500 million won from his aunt at an annual interest rate of 4.6% and 215.5 million won from his uncle interest-free for 10 years. The total amount borrowed was 715.5 million won.
Representative Seong questioned the circumstances under which the candidate’s eldest son purchased a commercial property worth around 700 million won just one year after starting his career, given that his reported assets amounted to only around 70 million won. In particular, he raised suspicions that the son may have invested based on prior knowledge, noting that the timing of the purchase coincided with the day the Yangji Village residents’ representative committee submitted the designation application for the redevelopment project to Seongnam City.
Representative Seong pointed out, “This is the kind of investment that would be difficult to make without precise information,” adding, “While the 2030 generation is struggling to even afford a single home, the son of a candidate who served as a four-star general purchased a commercial property for a substantial sum of 700 million won shortly after starting his career.” He further criticized, “It’s inevitable that people will say he didn’t just use ‘Dad’s connections’ but also ‘Aunt’s connections.’”
Candidate Kang explained that he had been abroad at the time and therefore could not properly monitor his eldest son’s financial activities. He said, “I was in the midst of a ‘war,’ so as a parent, I was unable to keep a close eye on him.” When Rep. Seong asked what kind of “war” he was referring to, Candidate Kang replied, “I was abroad.”
Kang went on to say, “I have always trusted my son, who is now 30, and I still do,” while reiterating, “I am deeply sorry that I fell short of the public’s expectations.”
Kang Shin-chul, nominee for Minister of National Defense, answers questions from committee members during a confirmation hearing held by the National Assembly’s National Defense Committee on the 16th. (Photo = Yonhap News) Earlier, in his written responses to questions submitted to the National Assembly, Nominee Kang also stated that neither he nor his spouse had been involved in the process of his eldest son’s purchase of a commercial property. He said, “I am not fully aware of the background and purpose behind my eldest son’s purchase of the commercial property,” adding, “Neither my spouse nor I were involved in the selection, purchase, or financing of the property.”
Regarding his eldest son’s debt repayment, he stated, “I confirmed that 2.4 million won in principal and interest was transferred to the creditor via bank transfer on the 31st of last month.” As for the specific method of financing the remaining 630 million won—excluding the 70 million won down payment—he replied, “Even though he is my son, he is an adult who leads an independent financial life, so I am not aware of the specific details.”
The fact that Nominee Kang’s eldest son had purchased a commercial property was initially omitted from the asset declaration in the nomination hearing request but was later corrected. Nominee Kang’s camp had previously stated, “We discovered the omission while compiling a list of items added after the 2026 regular asset declaration, notified the relevant agencies, and submitted the additional materials,” clarifying that it was not a deliberate concealment.
During the hearing that day, a heated exchange between the ruling and opposition parties ensued not only over the real estate issues involving Nominee Kang’s family but also regarding the selection of witnesses and reference persons, as well as the submission of materials.
Rep. Im Jong-deuk, the floor leader for the People Power Party, criticized the proceedings, saying, “There is not a single witness or reference person at this confirmation hearing,” and added, “This hearing has become one where no one has been called to verify the facts of the allegations raised.” He continued, “There are significant allegations regarding the nominee’s family, yet documents are not being submitted on the grounds that they did not consent to providing the information,” urging the submission of materials necessary for vetting.
On the other hand, Rep. Kim Byung-ju, the floor leader for the Democratic Party of Korea, countered that some of the witnesses requested by the opposition had little direct relevance to the candidate’s vetting. Rep. Kim said, “They demanded witnesses all the way up to the Blue House’s personnel team, which is irrelevant to the purpose of the hearing,” and asked, “Aren’t they trying to turn this into a venue for political attacks?” He also argued that baseless allegations should not be raised even regarding matters that the candidate could clarify personally.
Current defense policy issues also became major points of scrutiny at the hearing. In a written response to the National Assembly regarding the merger of military academies, Nominee Kang stated, “I believe a school dedicated to integrated education is necessary.” Regarding the transfer of wartime operational control, he identified the completion of the Full Operational Capability (FOC) verification for the Future Combined Forces Command as a key task. Ahead of the hearing, the merger of the military academies, the transfer of wartime operational control, and the deployment of troops to the Strait of Hormuz were cited as key policy issues.
In his opening remarks, Nominee Kang stated, “I stand here to have my capabilities and qualifications vetted,” adding, “I feel a sense of responsibility so profound it is difficult to put into words.” He continued, “There is a need for a defense policy that expands the military’s freedom to pursue national interests and increases strategic options, while simultaneously limiting opportunities for hostile threats,” and emphasized, “I will build a Republic of Korea Armed Forces that wins.”
In an era where work automation has become the norm as agentic artificial intelligence (AI) is rapidly integrated into various office tasks, there are now cases where AI is handling mergers and acquis…
Around 6:00 p.m. on the 15th, on the first basement level of The Hyundai Seoul in Yeouido, Seoul. As I stepped off the escalator, a long line caught my eye. These were people waiting to pick up produc…
#Graphy Inc. has completed the acquisition of the remaining shares of Ray Co., Ltd.(228670), securing a 26.14% stake. Following its rise to become Ray Co., Ltd.’s largest shareholder through the first…